Gillette India slips after Q4 PAT slides 39% YoY to Rs 28 cr

Gillette India lost 1.55% to Rs 5,834.30 after the company's standalone net profit skid 38.8% to Rs 27.53 crore on 24.2% increase in net sales to Rs 435.98 crore in Q4 June 2021 over Q4 June 2020.

The company said net sales improved as a consequence of its superior strategy and market recovery. However, the profit after tax (PAT) took a hit as a result of increased investment in brand building. The grooming and the oral care businesses recorded double-digit growth and grew ahead of their categories.

Standalone profit before tax tumbled 43.4% to Rs 37.74 crore in Q4 June 2021 as against Rs 66.70 crore in Q4 June 2020. The Q4 result was announced after market hours yesterday, 24 August 2021.

Madhusudan Gopalan, the managing director (MD) of Gillette India, said: "Since the outbreak of the pandemic, we have focused on protecting the health and safety of our people, serving the Indian consumers with our health and hygiene products, and supporting communities in need through our relief efforts. Despite a challenging market environment, we have delivered double-digit growth for the fourth consecutive quarter and for the full year. Our strategy to focus on superiority and productivity, enabled by the resilience and agility of our organization is driving balanced growth. We are continuing to extend our support to the communities under our COVID-19 response and relief program #PGSurakshaIndiah As a P&G group, we donated INR 50 Cr towards 10 lakh vaccine doses for 5 lakh citizens in partnership with state governments and local authorities."

The directors have recommended a final dividend of Rs 36 per equity share for the financial year ended 30 June 2021, subject to the approval of shareholders of the company at the ensuing 37th Annual General Meeting (AGM).

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.

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