Gillette India Dec qtr profit up 32 pc at Rs 71 cr

FMCG firm Gillette India on Thursday reported 31.63 per cent rise in profit after tax (PAT) at Rs 71.07 crore for the quarter ended December 31, 2019.

The company, which follows July-June financial year, reported a PAT of Rs 53.99 crore for October-December 2018, Gillette India said in a BSE filing.

However, its net sales was down 3.43 per cent to Rs 459.31 crore during the quarter under review as against Rs 475.66 crore in the year-ago period.

According to the company, this was "due to market slowdown and trade inventory correction".

Its revenue from grooming segment was Rs 344.81 crore as against Rs 373.22 crore in the corresponding quarter a year ago, while revenue from oral care was at Rs 114.50 crore as against Rs 102.44 crore.

" 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," Gillette India Managing Director Madhusudan Gopalan said.

Total expenses of the company stood at Rs 373.76 crore as against Rs 391.03 crore earlier, down 4.41 per cent.

On the outlook, he said:"We will continue to focus on adding new users and invest on innovation across our portfolio."