Gillette India Q3 Profit Dips 4%, Sales Up 10%

New Delhi, Apr 29 (PTI) Shaving products maker Gillette India on Monday reported a 4 per cent decline in profit after tax at Rs 99.09 crore for the third quarter ended March 31, 2024.

The company had a profit after tax of Rs 102.70 crore in the January-March period of 2023.

The company, which follows the July-June financial year, delivered sales of Rs 681 crore, up 10 per cent from the year-ago period, driven by superior innovations across the portfolio, and strong brand fundamentals, according to a regulatory filing.

"Profit After Tax (PAT) stood at Rs 99 crore, up 20 per cent operationally fueled by top-line growth, continued premiumization and productivity interventions. Reported profit after tax was down 4 per cent vs a year ago due to one-time tax impacts in the base and current quarters," Gillette India said in a regulatory filing.

LV Vaidyanathan, Managing Director, Gillette India Ltd said, "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."

Shares of Gillette India on Monday settled at Rs 6,209.25 on BSE, down 0.75 per cent from their previous close.