Gillette India Limited Q2 net profit down 5 percent to Rs 62 crore
today Nov 7, 2019
Gillette India Limited witnessed a five percent slump in its net profit to Rs 62 crore ($8.8 million) for the first quarter ended September 2019 as against Rs 65 crore it had reported in the year-ago period.
The company’s sales revenue for the quarter rose by one percent to Rs 462 crore as against Rs 457 crore it had reported during the July-September period last fiscal.
Gillette’s EBITDA for the quarter was at Rs 100 crore in September 2019 down 10 percent from Rs 111 crore in September 2018.
The dip in profit and muted growth was attributed to the challenging market environment coupled with increased spending on advertising and innovation.
Commenting on the results, Madhusudan Gopalan managing director at Gillette India Ltd in a statement said, "In a challenging macro-economic environment, we delivered resilient growth in the quarter by raising the bar on superiority, improving productivity, and strengthening the organization culture. We will continue to remain focused on these strategies in line with our aim to drive balanced growth.”
Gillette India follows July to June accounting cycle as its financial year.
Copyright © 2019 FashionNetwork.com All rights reserved.