Personal care products maker Gillette India has reported a 26 per cent increase in its profit after tax (PAT) for the quarter ended June 30, 2024. The Mumbai-based company saw its PAT rise to Rs 116 crore during the quarter, compared to Rs 97 crore in the corresponding quarter of the previous year. The GIL follows a July-June financial year.
During the three months, GIL’s operating revenue increased 4% from Rs 620 crore to Rs 654 crore a year earlier. However, as its total expenses declined from Rs 450.6 crore to Rs 495 crore, the company’s margins improved.
During the financial year from July 23 to June 24, Gillette’s revenue growth was higher at 6% year-on-year. Its operating revenue increased to Rs 2,633 crore from Rs 2,477 crore in the previous year. Net profit, however, grew at a higher rate of 16% year-on-year, from Rs 355.7 crore in the last financial year. According to the company, it managed to increase its revenue « despite a challenging operating and competitive environment ». Moreover, its net profit growth was attributed to « product innovation », in addition to sales growth.
“Gillette India has once again delivered a strong performance with balanced growth in both revenue and net profit during the financial year. This was made possible by our teams’ superior execution of the integrated strategy we have remained committed to: a product portfolio focused on everyday use categories where performance drives brand choice, superiority (in product performance, packaging, brand communication, retail execution and consumer and customer value), productivity, constructive disruption and an agile and responsible organisation, all aimed at ensuring sustainable and balanced growth and value creation,” said V Kumar, Managing Director, Gillette India Ltd. “This strategy is delivering consistent results for us and therefore remains the right path forward as we enter the new financial year,” he added.
