 "Gillette India shares zoom 10% on strong Q4 performance")
Shares of Gillette India climbed 9.95 per cent to hit an intraday high of Rs 6,827.45 per share on Tuesday, after reporting a strong set of quarter-ending March (Q4FY24) results.
At 1:42 PM, Gillette India shares were trading 9.17 per cent higher at Rs 6,778.65 apiece. By comparison, BSE S&P 500 was up 0.34 per cent at 74,923.12 levels.
Gillette India’s topline growth jumped nearly 10 per cent to Rs 680.7 crore in Q4FY24, as opposed to Rs 619.1 crore in the same quarter a year ago (Q4FY23).
The company’s profit, however, dipped over 3 per cent to Rs 99 crore in the March quarter, from Rs 102.7 crore in the same quarter a year ago.
“Profit After Tax (PAT) stood at Rs 99 crore, up 20 per cent operationally fuelled by top-line growth, continued premiumisation and productivity interventions. Reported profit after tax was down 4 per cent versus year ago due to one-time tax impacts in the base and current quarters,” the company said.
On the operating front, its earnings before interest, taxes, depreciation and amortisation (Ebitda) climbed nearly 20 per cent to Rs 160.3 crore versus Rs 133.7 crore in the same quarter previous fiscal.
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Gillette India’s operating margin, also known as Ebitda margin, zoomed 200 basis points to 23.6 per cent, as against 21.6 per cent in Q3FY23.
Additionally, the company delivered sales of Rs 681 crore, up 10 per cent annually, driven by superior innovations across the portfolio, and strong brand fundamentals.
“We continue to deliver a strong top line and share growth driven by our teams’ excellent execution of our integrated growth strategy. We remain committed to a focused product portfolio of daily use categories where performance drives brand choice, superiority — across product performance, packaging, brand communication, retail execution and consumer and customer value — productivity, constructive disruption, and an agile and accountable organisation. We are confident that these strategies will continue to help us deliver balanced growth and value creation,” said LV Vaidyanathan, Managing Director, Gillette India.