Shaving product maker Gillette India Ltd on Monday reported over two-fold increase in its net profit at Rs 67.59 crore during the fourth quarter ended June 30, 2022, led by a strong sales growth.
The company, which follows July-June financial year, had reported a profit of Rs 27.53 crore in the corresponding quarter of previous fiscal.
Its revenue from operations increased 26.81 per cent to Rs 552.89 crore during the quarter under review as against Rs 435.98 crore of the corresponding quarter, Gillette India said in a BSE filing.
In April-June quarter, Profit After Tax (PAT) of the company was up 145 per cent versus a year ago “behind strong sales growth and productivity in the current quarter, as well as higher investment in brand building activities in the base period,” said an earnings statement by Gillette India.
Gillette India’s total expense was at Rs 462.19 crore, up 15.06 per cent in April-June quarter, as against Rs Rs 401.66 crore.
“Compared to the corresponding quarter two years ago, the company’s sales are up 57 per cent and PAT is up 50 per cent,” it said.
Its revenue from the grooming segment was at Rs 426.27 crore, up 27.93 per cent during the quarter as against Rs 333.18 crore of the corresponding quarter.
Gillette India’s revenue from oral care increased 23.17 per cent to Rs 126.62 crore. It was Rs 102.80 in the April-June quarter of the last year.
“For the quarter, both grooming and the oral care businesses recorded double-digit growth and grew ahead of their categories,” it said.
For its financial year ended on June 30, 2022 Gillette India’s revenue from operations was up 12.27 per cent at Rs 2,256.16 crore. It was Rs 2,009.42 crore a year before.
“Despite unprecedented headwinds from macroeconomic challenges and softening consumption trends during the fiscal, the company delivered sales of Rs 2,256 crore, up 12 per cent versus year ago, behind the strength of its product portfolio and improved retail execution,” the company said.
Gillette India managing director L V Vaidyanathan said the company has delivered a consistent results this fiscal year despite unprecedented challenges and disruptions in the macroeconomic and business landscape.
“This is a testament to the strength of our products and strategic choices to drive meaningful superiority across products, packaging, communication, retail execution and value proposition,” he said.
Meanwhile, in a separate filing, Gillette India said its board, in a meeting held on Monday, has recommended a dividend of Rs 36 per equity Share for a share having a face value of Rs 10 each.
Shares of Gillette India Ltd on Monday settled at Rs 5,476.70 on BSE, up 2.87 per cent from the previous close.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)