Gillette India Sepemtember quarter profit surges 88%

Gillette India today reported a 88.29% jump in net profit at Rs 33.29 crore for the quarter ended September 30.

The company had posted a net profit of Rs 17.68 crore in the corresponding period last fiscal, Gillette India said in a statement.

Net sales during the period under review were Rs 481.53 crore as against Rs 438.93 crore in the year-ago quarter, up 9.7%, it said.

Revenue from its flagship grooming segment was at Rs 333.94 crore compared with Rs 306.04 crore last fiscal.

In a BSE filing, Gillette India said it has been informed by Procter & Gamble (P&G), which had earlier informed the company for the termination of distribution agreement of Duracell batteries with effect from January 29, 2016, to continue to distributor "till February 29, 2016 or any date as may be agreed between the two parties".