Gillette India today reported 57.03% decline in net profit for the quarter ended September 30 at Rs 18.43 crore, mainly due to higher expenses in advertising and promotional activities.
The company had posted a net profit of Rs 42.89 crore in the corresponding period last year, Gillette India said in a filing to the BSE.
The total income during the third quarter, however, increased by 13.43% to Rs 280.19 crore from Rs 247.01 crore in the year-ago period.
The company, which sells men's grooming products, saw an rise of 55.99% in expenses in advertising and sales promotion activities to Rs 70.18 crore from Rs 44.99 crore in the same period last fiscal, the filing said.
The shares of the company today closed 6.60% up at Rs 2,230 apiece on the BSE.