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Shaving products maker Gillette India on Friday reported a 5.91 per cent rise in its net profit at Rs 86.78 crore for the quarter ended September 30, 2022, helped by a rise and growth in market share.
The company, which follows July-June financial year, reported a profit of Rs 81.93 crore in the corresponding quarter of the previous fiscal.
Its income from operations grew by 8.12 percent to Rs 619.92 crore during the quarter under review against Rs 573.31 crore in the corresponding quarter, Gillette India said in a BSE filing.
Gillette achieved market share growth, helped by ”strong brand fundamentals, the strength of the product portfolio and improved retail execution,” the company said in its earnings statement.
Moreover, “premiumization and deliberate productivity interventions” also helped increase its profit after tax, it said.
“Compared to the corresponding pre-Covid quarter three years ago, company sales increased by 34 percent and PAT increased by 41 percent,” the statement said.
However, Gillette India’s revenue from oral care declined by 13.46 percent to Rs 130.52 crore. It was 150.83 crore in the April-June quarter of last year.
Gillette India’s total spending was at Rs 502.66 crore, up 8.22 percent in the July-September quarter, against Rs 464.47 crore.
Its revenue from the maintenance segment was at Rs 489.40 crore, up 15.83 percent during the quarter, against Rs 422.48 crore in the corresponding quarter.
Gillette India Managing Director LV Vaidyanathan said: “We remain committed to our integrated strategies that have enabled us to build and sustain strong momentum. As the near term continues to be marked by cost and operational challenges, we remain focused on productivity and innovation to drive a balanced top and bottom growth.” Shares of Gillette India Ltd were on Friday afternoon trading at Rs 5,190.20 on BSE, up 0.55 percent from the previous close.
(This story has not been edited by Devdiscourse staff and is automatically generated from a syndicated feed.)
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