Gillette India Q2 net profit declines 14 percent to Rs 70 crore
Gillette India Ltd reported a 14 percent decline in net profit to Rs 70 crore ($9.4 million) for the quarter ended in December 2021, as against a net profit of Rs 82 crore it reported in the year-ago period.
The company, which follows July-June financial year reported a revenue of Rs 563 crore, a growth of 8 percent as against last year’s 520 crore.
During the quarter, Gillette India has started marketing and selling the grooming brand Braun, a subsidiary of Procter & Gamble in India.
Commenting on the Q2 results, Madhusudan Gopalan, managing director at Gillette India Ltd in a statement said, “In a challenging market environment, we recorded strong sales growth during the quarter. With our continued focus on improving productivity, we were able to minimize the impact of high commodity cost inflation.”
“Our strategy of driving superiority, improving productivity enabled by the strength of our organization and culture has enabled us to deliver strong results consistently and we will continue to focus on them to deliver balanced growth. In line with our strategy, we have also strengthened our grooming product portfolio with the additions of Braun and King C Gillette products,” he added.
Gillette India is one of the leading fast-moving consumer goods firms in India with a strong presence in the grooming and oral care segments.
Copyright © 2022 FashionNetwork.com All rights reserved.