Gillette India rallies after Q3 PAT spurts 101% YoY to Rs 106 cr

Gillette India rose 3.51% to Rs 5,639.45 after the company's standalone net profit surged 101.7% to Rs 105.66 crore on 32% jump in net sales to Rs 536.62 crore in Q3 FY21 over Q3 FY20.

The growth was largely behind base impact from lockdown related material operational disruption in the corresponding period last year, a one-time write back of provision of Rs 16.28 crore, resulting from settlement of certain tax disputes and productivity savings.

Madhusudan Gopalan, the managing director (MD) of Gillette India, said: "For the third consecutive quarter, we delivered double-digit profitable growth in a challenging environment driven by strong portfolio of trusted products and strong retail execution. Our strategy of driving superiority, improving productivity, leading constructive disruption, and strengthening our organization and culture has enabled us to consistently deliver results and continue to be the right strategies to deliver balanced growth in the long- term."

The board has declared a special interim dividend of Rs 50 on every equity share of Rs 10. The record date for the dividend will be 14 May 2021.

Gillette India is engaged in the manufacturing and sale of branded packaged fast-moving consumer goods in the grooming, portable power and oral care businesses.

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