Gillette India Q2 profit rises 39.6% to Rs 104 crore

New Delhi: Shaving products maker Gillette India Ltd on Tuesday reported a 39.62 per cent rise in profit to Rs 103.95 crore for the second quarter ended December 2023, helped by productivity interventions and moderation of inflation.

The company, which follows the July-June financial year, had reported a profit of Rs 74.45 crore in the year-ago period.

Its revenue from operations increased 3.36 per cent to Rs 639.46 crore during the quarter under review as against Rs 618.62 crore a year ago, Gillette India said in a regulatory filing.

This was "driven by a robust portfolio, superior retail execution and strong brand fundamentals," the company said in its earnings statement.

Its profit grew around 40 per cent largely driven by productivity interventions, product price mix and moderating cost inflation.

Gillette India's total expenses declined 1.45 per cent to Rs 507.61 crore in the December quarter.

Its revenue from the grooming segment was Rs 514.21 crore and Rs 125.25 crore from the oral care segment in the October-December period.

During the quarter, the total income of the company, which owns leading brands Gillette and Oral B, climbed 4 per cent to Rs 646.65 crore.

The company also announced an interim dividend of Rs 85 per equity share for the financial year 2023-24, which includes a one-time special dividend of Rs 40 per equity share to commemorate 40 years in India.

Shares of Gillette India Ltd settled at Rs 6,714.35 apiece on BSE, up 3.59 per cent from the previous close.