Gillette India reported 3.5% decline in net profit to Rs 99.09 crore in the third quarter ended 31 march 2024 as against Rs 102.70 crore recorded in the same period a year ago.
Profit after tax (PAT) increased by 20% due to top-line growth, premiumization, and productivity interventions, while reported PAT fell by 4% due to one-time tax impacts in base and current quarters.Revenue from operations grew by 10% year on year to Rs 680.74 crore in the quarter ended 31 March 2024, driven by superior innovations across the portfolio, and strong brand fundamentals.
Profit before tax stood at Rs 142.82 crore in the March quarter, up 16.2% from Rs 122.87 crore reported in the corresponding quarter previous year.
During the quarter, the company's revenue from Grooming was at Rs 557.71crore (up 13.5% YoY) and revenue from Oral Care stood at Rs 123.03 crore (down 3.67% YoY).
LV Vaidyanathan, managing director, Gillette India, said, We continue to deliver 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 organization. We are confident that these strategies will continue to help us deliver balanced growth and value creation.
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.
Shares of Gillette India rallied 5.64% to Rs 6,559.70 on the BSE.
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