Gillette India's standalone net profit jumped 15.2% to Rs 81.90 crore on a 13.3% increase in net sales at Rs 520.42 crore in Q2 December 2020 over Q2 December 2019.
Gillette India (GIL) delivered strong sales on account of its superior strategy, robust product portfolio, strong retail execution and market recovery. Profit after Tax (PAT) grew due to its focus on productivity and savings.
Standalone profit before tax (PBT) soared 37% to Rs 123.22 crore in Q2 December 2020 as against Rs 89.92 crore in Q2 December 2019. Tax expense for the quarter surged 160.1% to Rs 45.46 crore as against Rs 17.48 crore in Q2 December 2019. The Q2 result was declared post market hours yesterday, 4 February 2021.
Madhusudan Gopalan, the managing director (MD) of Gillette India, has said that: "For the second consecutive quarter, we delivered double-digit profitable growth driven by the strength ofour trusted product portfolio, strong retail execution and strong market recovery in the quarter. As market continues to recover in the grooming category, we will continue to remain focused on our strategy of driving superiority, improving productivity, leading constructive disruption, and strengthening our organization and culture. These strategies have enabled us to consistently deliver results despite a challenging market environment and continue to be the right strategies to deliver balanced growth in the long-term."
The board declared an interim dividend of Rs 33 on every equity share of Rs 10. The record date for the dividend will be 12 February 2021.
Shares of Gillette India rose 0.73% to Rs 5,832. 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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