Gillette India Q2 profit jumps 32 percent to Rs 71 crore
FMCG firm Gillette India reported a 32 percent rise in its profit after tax (PAT) to Rs 71 crore ($10.1 million) for the quarter ended December 31, 2019, as against Rs 54 crore it had reported in the corresponding quarter last year.
The company, which follows July-June financial year, witnessed a 3 percent drop in its net sales for the quarter to Rs 459 crore, as against Rs 476 crore it had posted in the year-ago period.
The grooming segment contributed a major chunk to the company’s overall revenue for the quarter with Rs 345 crore, while oral care added Rs 115 crore.
The company’s expenses for the quarter were Rs 374 crore, as against last year’s Rs 391 crore.
Commenting on the second-quarter results, Gillette India managing director, Madhusudan Gopalan, in a statement said: “In a challenging macro-economic environment, we delivered a resilient quarter by raising the bar on superiority, improving productivity, and strengthening the organization culture. Despite market challenges, the business grew ahead of the market as Gillette achieved its highest-ever share and strong offtake growth.”
On the outlook, Gopalan said: “We will continue to focus on adding new users and invest in innovation across our portfolio."
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