Gillette India profit drops 39.02% at Rs 15.14cr in July-Sept

Company reported net profit of Rs 25 crore for the same period last year

Gillette India today reported 39.02% decline in net profit to Rs 15.14 crore for the quarter ended September 30, 2013.

The company had reported net profit of Rs 24.83 crore for the same period last year.

Gillette's net sales for the quarter stood at Rs 387.17 crore, up 15.64% as against Rs 334.8 in the corresponding period a year ago.

"Profit after tax (PAT) was in line with expectations given the planned launch of investment in Oral B toothpaste," Gillette said in a statement.

During the quarter, revenue from grooming segment went up by 13.36% at Rs 271.31 crore, while revenue from portable power went up by 9.36% at Rs 18.22 crore and revenue from oral care business increased by 23.21% at Rs 98.07 crore.

Commenting on the result, Gillette India Managing Director Shantanu Khosla said: "Gillette India continues to deliver sustained growth across all categories, driven by strong results on the base business. We will continue our focus on winning with customer through superior value creation."

Overall expenses during the quarter were at Rs 372.53 crore, an increase of 20.61% compared with Rs 308.86 crore in the same quarter a year ago.

Shares of Gillette India closed at Rs 2,099.45, up 0.26% from its previous close on the BSE.