Gillette India Dec quarter results: Net profit rises 39.6% on better demand

Gillette India, known for its shaving razors and Oral B toothbrushes, posted a 39.6 per cent rise in its second-quarter profit on Tuesday, helped by increased demand and launch of more premium products.

Gillette India, in which consumer goods giant Procter & Gamble Co holds a majority stake, reported a profit of Rs 104 crore ($12.5 million) for the three months ended Dec. 31, compared with Rs 74.45 crore rupees a year earlier.

Its revenue from operations rose 3.4 per cent for the quarter.

Gillette India also declared an interim dividend of 85 rupees per share for the financial year 2023-24, which includes a one-time special dividend of 40 rupees per share.

Gillette is capitalising on the changing consumer preferences in India in recent years, as a significant number of consumers, particularly the rising middle-class, favour branded products over unbranded local alternatives.

The surge in the company's second-quarter profit follows a single-digit growth in the previous quarter.

Rival Colgate-Palmolive (India) reported a 35.7 per cent jump in the December-quarter profit, aided by healthy urban demand and a fall in expenses.