Gillette India net profit declines 9.15% to Rs 53.39 cr

Gillette India on Thursday reported a 9.15 per cent decline in net profit to Rs 53.39 crore for the quarter ended on December 2018 impacted by cost inflation, expiry of tax benefits and higher marketing spend.

The company, which follows July-June financial year, had reported a net profit of Rs 58.77 crore for the October-December period a year ago, according to a BSE filing.

Its total income rose by 17.13 per cent to Rs 479.71 crore during the quarter under review as against Rs 409.52 crore in the corresponding quarter of the previous fiscal.

"We have delivered strong double-digit growth for the second consecutive quarter this year driven by robust volume growth, category development and execution excellence," said Gillette India Managing Director Madhusudan Gopalan.

Gillette India's total expenses in October-December quarter were at Rs 391.03 crore as against Rs 320.94 crore, up 21.83 per cent.

Revenue from grooming was at Rs 373.22 crore, up 12.36 per cent, Rs 332.15 crore, while oral care was at Rs 102.44 crore, up 35.91 per cent, as against Rs 75.37 crore.

In a separate filing, Gillette India informed that its board in a meeting on Thursday recommended an interim dividend of Rs 19/- per equity share (Face Value of Rs 10/- each) for 2018-19.

Shares of Gillette India Thursday settled at Rs 6,481.70 on BSE, up 0.05 per cent from the previous close.