Gillette India's Q3 profit jumps 48% on lower tax expenses, premium products

Gillette India

11/05/2023 14:46

May 11 (Reuters) - Gillette India Ltd  GILE.NS , known
for its shaving razors, posted a more than 48% jump in
third-quarter profit on Thursday, helped by lower income tax
expenses and the introduction of more premium products.
    Gillette India, in which consumer goods giant Procter &
Gamble Co  PG.N  holds a 75% stake, said its profit stood at
1.03 billion rupees ($12.6 million) for the three months ended
March 31, compared with 693.1 million rupees a year earlier.
    Total expenses rose nearly 11% in what the maker of Oral B
toothbrushes called a "challenging" cost environment. However,
income tax expenses more than halved to 201.7 million rupees.
    Revenue from its mainstay grooming segment, which accounts
for over three-fourths of the total revenue, rose 10%, while
oral care reported a nearly 7% increase.
        Total revenue from operations rose 9.3% to 6.19 billion
rupees.
    Shares of the company closed 0.12% down on Thursday ahead of
the results. It fell 14% in the January-March quarter, compared
with a 4% rise in the benchmark Nifty FMCG Index  .NIFTYFMCG .
    
  
($1 = 81.7800 Indian rupees)

 (Reporting by Aleef Jahan and Manvi Pant in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com;
manvi.pant@thomsonreuters.com))