Gillette India slips after Q1 PAT declines

Gillette India fell 2.97% to Rs 7,663.40 after net profit slipped 5.5% to Rs 61.76 crore on 1.2% increase in net sales to Rs 462.20 crore in Q1 September 2019 over Q1 September 2018.

The company stated that the fall in net profits was largely due to increased spending on advertising and innovation. The result was announced after market hours yesterday, 5 November 2019.

Commenting on the results, Madhusudan Gopalan, the managing director of Gillette India, said, "In a challenging macro‚Äźeconomic environment, we delivered resilient growth in the quarter by raising the bar on superiority, improving productivity, and strengthening the organization culture. We will continue to remain focused on these strategies in line with our aim to drive balanced growth."

Meanwhile, the S&P BSE Sensex was down 155 points or 0.38% to 40,093.57. The S&P BSE FMCG index was down by 0.26% at 12,238.93.

On the BSE, 288 shares were traded in the counter so far compared with average daily volumes of 481 shares in the past two weeks. The stock hit an intraday high of Rs 7,789.95 and an intraday low of Rs 7,633.90 so far during the day.

The stock hit a 52-week high of Rs 8,200 on 29 October 2019. The stock hit a 52-week low of Rs 6,200 on 11 December 2018.

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. The firm's segments are: grooming, portable power and oral care.

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