Manufacturer of shaving and oral care products Gillette India Ltd. reported a jump in profit after tax (PAT) of 35.74% to Rs. 91.75 crore for the fourth quarter that ended in June 2023, boosted by higher sales and higher productivity.
The corporation, which uses a financial year of July to June, posted a profit of Rs 67.59 crore for the same quarter the year before.
In comparison to the same quarter a year before, operating revenue climbed 12.03 percent to Rs 619.44 crore, according to a BSE report by Gillette India.
“PAT for the quarter was Rs 92 crore, up 36 pc versus year ago behind strong sales growth and productivity in the current quarter,” said an earnings release from Gillette India.
The amount spent overall during the quarter increased 8.30% from the same time last year to Rs. 500.58 crore.
The firm, which is the owner of well-known brands Gillette and Oral B, saw a 12.59% growth in total revenue to Rs 624.22 crore in the June quarter.
It was “driven by strong brand fundamentals and superior retail execution,” according to Gillette India.
The grooming sector brought in Rs 485.37 crore more money, an increase of 13.86%. In a similar vein, oral care increased 5.88% to Rs 134.07 crore.
The PAT for Gillette India for the fiscal year that ended June 30, 2023 increased by 22.93% to Rs 355.68 crore. In the same time a year earlier, it was Rs 289.33 crore.
For the fiscal year, operating revenue increased 9.79% to Rs 2,477.05 crore.
“The…quarter provided a strong finish to fiscal year, closing at double-digit top-line and bottom-line growth,” said LV Vaidyanathan, managing director of Gillette India. Our steadfast integrated growth strategies that concentrate on daily use areas where performance promotes brand choice, compelling superiority, and productivity are responsible for our constant success. In a separate filing, Gillette India disclosed top-level management changes and said that Saurabh Bajpai will no longer serve as the Grooming Category Leader as a result of a change in his P&G assignment, effective August 31, 2023.
With effect from September 1, 2023, Abhishek Desai will be named vice president and category leader for grooming and brand operations.
Tuesday’s BSE closing price for shares of Gillette India Ltd was Rs 5,519.15, down 0.09 percent from the previous day.
