Gillette Q1 profit rises by 20%

Company posted net profit of Rs 14 crore in the same period of previous fiscal

FMCG major Gillette India today reported a 20.04% increase in net profit at Rs 16.47 crore for the first quarter ended June 30, 2013.

The company had posted a net profit of Rs 13.72 crore in the same period of the previous fiscal, Gillette India Ltd (GIL) said in a filing to the BSE.

Company's income from operations increased to Rs 392.07 crore in the April-June quarter, compared to Rs 335.97 crore in the same period last year.

"GIL recorded sustained robust growth across all categories driven by strong volume growth and an innovative, consumer-meaningful product mix," GIL Managing Director Shantanu Khosla said.

This year the company will further expand its product offerings, with the launch of Oral-B toothpaste in the highly competitive and attractive toothpaste category, he added.

GIL's revenue from the grooming segment was Rs 281.11 crore in the quarter as against Rs 246.27 crore for the corresponding period of last fiscal.

Revenue from portable power segment also increased to Rs 20.24 crore this quarter. It was Rs 16.17 crore in first quarter of the last year.

GIL's revenue from oral care segment was Rs 91.61 crore this quarter as against Rs 74.05 crore in the year-ago period.

Company shares closed at Rs 2,100 per scrip on BSE, down 0.51% from its previous close.