Gillette India soars on strong March results and dividend announcement

The stock zoomed 13% to Rs 4,973, also its 52-week high on BSE.

Gillette India  zoomed 13% to Rs 4,973, also its 52-week high on BSE in intra-day trade, after the company said its board has declared a special interim dividend of Rs 154 per equity share.

The company has fixed Thursday, May 18, 2017 as the record date for the purpose of payment of said interim dividend. The dividend shall be paid, between May 22, 2017 and June 5, 2017.

The personal products maker has reported a strong 54% year on year (YoY) growth in profit after tax of Rs 106 crore for the quarter ended March 2017.

Sales increased by 17% YoY at Rs 535 crore, driven by the company’s focus on brand fundamentals, strength of the product portfolio and improved in-store execution, Gillette India said .

The company has benefitted from portfolio optimization, even as it continues to focus on productivity and cost efficiency, it added.

Earnings before interest, tax, depreciation and amortization (EBITDA) margin improved to 31.2% from 25.6%.

At 09:53 am; the stock was up 9% at Rs 4,816 on BSE as compared to 0.31% rise in the S&P BSE Sensex. A combined 46,126 shares changed hands on the counter on BSE and NSE so far.