Gillette India Q2 results: Net profit falls 14% to Rs 82 cr

New Delhi: Grooming products maker Gillette India on Tuesday reported a 14.02 per cent decline in its net profit to Rs 81.93 crore for the first quarter ended September 30. The company, which follows July-June financial year, had reported a profit of Rs 95.29 crore in the corresponding quarter previous fiscal.

Its net sales were 11.02 per cent to Rs 573.31 crore during the quarter under review against Rs 516.40 crore a year ago, Gillette India said in a BSE filing.

"Profit After Tax (PAT) was Rs 82 crores, down 14 per cent vs year ago because of lower marketing investments in the corresponding quarter of 2020 due to the pandemic," Gillette India said in a post earning statement.

Gillette India's total expenses increased 16.81 per cent to Rs 464.47 crore, compared to Rs 397.62 crore.

Its revenue from the grooming segment was Rs 422.48 crore and Rs 150.83 crore from oral care.

"Both Grooming and the Oral Care businesses recorded strong growth ahead of their categories," it said.

Gillette India Managing Director Madhusudan Gopalan said: "In a challenging market environment and a higher base period, we have delivered double-digit sales growth. As the market continues to recover, we will continue to focus on our strategy of driving superiority and productivity, enabled by strength of our organisation and culture".

Shares of Gillette India Ltd on Tuesday settled at Rs 5,810.30 apiece on BSE, up 1.46 per cent from the previous close.