Gillette sees its Q3 profits increase by 48.2%

By

Isabelle Crossley

Published
May 17, 2023

Gillette India Limited reported a 48.2% year-on-year increase in profits in its third financial quarter ending in March 2023 due to one-time tax impacts. The business also saw both its revenue and expenses rise due to product premiumisation. 

“In a challenging cost environment, the company continued to make sequential progress in profit growth with PAT at Rs 103 crore, up 12% operationally vs year ago fuelled by top-line growth, premiumisation and productivity interventions,” said Gillette India in an earnings statement, the Press Trust of India reported. 
 
Gillette follows a July to June financial year and reported profits after tax of Rs 69.31 crore in the third quarter of its 2022 financial year. The business’ revenue from operations totalled Rs 619.07 crore in the third quarter of its 2023 financial year. This represents a 9.27% increase compared to its revenue from operations of Rs 566.52 crore in the same period a year prior, according to the business’ filing on the Bombay Stock Exchange. 

Expenses were up in its January to March quarter at Rs 507.97 crore. This represents a 10.96% increase compared to the same period a year before. Total income was also up 11% at Rs 630.84 crore and Gillette attributes this to innovation and improved retail execution, ET Bureau reported.