Shaving products maker Gillette India Ltd on Thursday reported a 48.17 per cent rise in profit after tax (PAT) to Rs 102.70 crore for the third quarter ended March 2023, helped by tax gains and premiumisation of products. The company, which follows the July-June financial year, had reported a profit of Rs 69.31 crore in the corresponding quarter of the preceding year.
Its revenue from operations increased 9.27 per cent to Rs 619.07 crore during the quarter under review against Rs 566.52 crore a year ago, Gillette India said in a BSE filing.
“In a challenging cost environment, the company continued to make sequential progress in profit growth with PAT at Rs 103 crore, up 12 per cent operationally vs year ago fuelled by top-line growth, premiumisation and productivity interventions,” Gillette India said in its earning statement.
According to the company, its “reported profit after tax was up 48 per cent vs year ago due to one-time tax impacts”.
Gillette India‘s total expense in January-March was Rs 507.97 crore, up 10.96 per cent.
The total income in the March quarter increased 11 per cent to Rs 630.84 crore.
This was led by “strong brand fundamentals, the strength of product portfolio, superior innovation, and improved retail execution”, said Gillette India.
Its revenue from the grooming segment was Rs 491.35 crore, up 10 per cent. Similarly, oral care rose 6.54 per cent to Rs 127.72 crore.
Shares of Gillette India Ltd on Thursday settled at Rs 4,637.75 on BSE, up 0.44 per cent from the previous close.