Gillette India Q2 PAT rises 5% YoY to Rs 74 cr

Gillette India reported 5.6% rise in net profit to Rs 74.45 crore on 9.8% increase in revenue from operations to Rs 618.62 crore in the quarter ended December 2022 over quarter ended December 2021.

The company said that net sales was driven by the strength of its brands and product portfolio, superior innovation, and improved retail execution. The profit after tax (PAT) was supported by strategic productivity interventions.

The company added that this is the third consecutive quarter of topline and bottom-line growth. Compared to the corresponding pre-covid quarter three years ago, Gillette has made significant progress with sales up 35%.

Profit before tax rose 9.69% to Rs 106.43 crore in the quarter ended December 2022 as against Rs 97.03 crore in the quarter ended December 2021.

Total expenses were up 10.04% year on year to Rs 515.12 crore during the three months ended December 2022. Cost of raw materials consumed increased by 14.30% YoY to Rs 211.13 crore during the period under review.

During the quarter, revenue from grooming segment stood at Rs 494.50 crore, up 15.63% YoY while revenue from oral care segment stood at Rs 124.12 crore, down 8.59% YoY.

LV Vaidyanathan, managing director of Gillette India said, For the third consecutive quarter, we have delivered profitable growth in a challenging environment, driven by our integrated strategies of a focused product portfolio, superiority, productivity, constructive disruption, and an agile and accountable organization. These strategies build on each other and have collectively aided us in driving and sustaining a strong momentum, thereby setting us up for sequential growth in the quarter. While cost and operating challenges continue in the near-term, we remain focused on our endeavor of driving a balanced top and bottom-line growth.

Menawhile, the board of directors declared an interim dividend of Rs 35 per equity share and the record date for the same will be 9 February 2023.

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.

The scrip rose 0.47% to currently trade at Rs 4,892.65 on the BSE.

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