The shaving products maker posted a 1.9% decline in net profit to Rs 44.97 crore on 24% decline in net sales to Rs 350.98 crore in Q4 June 2020 over Q4 June 2019.
The company said its business operations were disrupted across the country following the nationwide lockdown imposed to contain the spread of COVID-19. The company's total expense reduced 36% to Rs 286.04 crore in quarter ending June 2020 from Rs 450.59 crore in quarter ending June 2019. Profit before tax surged 322% to Rs 66.7 crore in Q4 June 2020 over Q4 June 2019. Total tax expense stood at Rs 21.73 crore in Q4 June 2020 as against a tax rebate of Rs 30 crore in the same period last year.Commenting on company's performance, Madhusudan Gopalan, MD Gillette India said, "In April-May, our sales were significantly impacted due to the pandemic related lockdown, which reduced the shaving frequency among consumers. With the easing of the lockdown, we saw a sharp recovery in June/July to pre-COVID levels. While the unprecedented market challenges and uncertainties remain in the near-term, we will continue to stay focused on our strategy to drive superiority and improve productivity, and aim to drive balanced growth.
Meanwhile, the board recommended a final dividend of Rs 49 per equity share for the financial year ended 30 June 2020.
Shares of Gillette India were up 2.99% at Rs 5,687.95 on BSE. The result was announced after market hours yesterday, 26 August 2020.
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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