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Gillette India shares drop after grooming business growth offset by oral care

Gillette India shares drop after grooming business growth offset by oral care

Gillette India shares drop after grooming business growth offset by oral care
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By CNBCTV18.com Nov 4, 2022 3:56:32 PM IST (Published)

Compared to the pre-Covid period, Gillette India's overall sales are up 34 percent.

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Gillette India Ltd.'s net profit grew 6 percent year-on-year for the September quarter led by premiumisation and productivity inventions. Compared to the pre-Covid period, net profit has risen 41 percent during the quarter.
The company's bottomline for the quarter stood at Rs 86.78 crore while revenue increased 8 percent from last year to nearly Rs 620 crore.

Revenue growth was owing to strength of the company's product portfolio and better retail execution.

Compared to the pre-Covid period, Gillette India's overall sales are up 34 percent.

The company, of which 75 percent is owned by Procter & Gamble, reported a rise of 8 percent in its operating profit or EBITDA from the same period last year despite significant macroeconomic headwinds, which were offset by a superior product, packaging and proposition.

Most of the growth came from the company's grooming business, which grew 16 percent from last year. The growth here was offset by the oral care business, which saw a decline of 13 percent compared to last year.

Shares of Gillette India ended 0.9 percent lower on Friday at Rs 5,144. The stock is down 3 percent this year.
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