Gillette India dips post FY12 earnings

FY12 net profit declines 12% on YoY basis due to currency devaluation, and increase in commodity prices as well as manufacturing charges

Gillette India has dipped 5% at Rs 2,220 after reporting 12% year-on-year (yoy) drop in net profit at Rs 76 crore for the year ended June 2012 due to currency devaluation, and increase in commodity prices as well as manufacturing charges. Net sales however, grew 16% at Rs 1,229 crore on y-o-y basis.

For the fourth quarter ended June 30, 2012, the personal products maker has reported 41% drop in net profit at Rs 13.72 crore on sequential basis.

Meanwhile, the board has maintained dividend for the financial year ended June 30, 2012 at Rs 15 per equity share which was paid in the previous fiscal.

 

The stock opened at Rs 2,349 and hit a low of Rs 2,212 on the NSE. A combined 13,398 shares have changed hands on the counter so far.