Gillette India net profit down 40 percent to Rs 52 crore in January-March quarter
Gillette India Ltd witnessed a 40 percent decline in its net profit to Rs 52 crore ($7 million) for the third quarter, as against Rs 88 crore it had reported in the year-ago period.
The company, which follows the July-June financial year, also saw its sales plummet by 13 percent to Rs 407 crore during the quarter under review as against Rs 466 crore in the year-ago period.
Gillette India's total expenses for the quarter was up 2 percent to Rs 339 crore in January-March, as against Rs 333 crore in the year-ago quarter.
“The company was forecasting sales growth of mid-single-digit for the quarter before the lockdown. But following the nationwide lockdown to contain the spread of Covid-19, the business operations were severely disrupted across the country," Gillette India said in a post earning statement.
Gillette is one of India’s leading consumer goods companies with a strong presence in the men’s grooming segment.
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