Gillette India Sept qtr profit up 7% to Rs 93 cr

New Delhi: Grooming products maker Gillette India on Tuesday reported 6.81 per cent increase in net profit at Rs 92.69 crore for the first quarter ended September 30, 2023.

The company, which follows the July-June financial year, had reported a profit of Rs 86.78 crore in the year-ago period, according to a regulatory filing by Gillette India Ltd (GIL).

Revenue from operations was up at Rs 667.55 crore during the quarter under review as against Rs 619.92 crore in the same quarter a year ago.

The revenue growth was driven by "superior retail execution, strong brand fundamentals and its integrated growth strategy," said an earning statement from GIL.

Its profit growth was led by premiumisation, deliberate productivity interventions, partially offset by a one-time expense.

Excluding this one-time impact, operational Profit After Tax (PAT) was up 14 per cent versus a year ago, GIL said.

Total expenses were at Rs 551.03 crore, up 9.62 per cent during the quarter.

Revenue from the grooming segment was at Rs 527.47 crore and Rs 140.08 crore from Oral Care.

Total income in the September quarter was at Rs 676.19 crore, up 8.6 per cent.

Shares of Gillette India Ltd on Tuesday settled at Rs 6,132 apiece on BSE, down 1.35 per cent from the previous close.