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The company said that net sales was driven by its strong brand fundamentals, strength of product portfolio and improved retail execution, leading to market share growth, even in a challenging macro-economic environment. The profit after tax (PAT) was supported by premiumization and deliberate productivity interventions. Compared to the corresponding pre-covid quarter three years ago, the company's sales were up 34% and PAT was up 41%.
Profit before tax rose 7.06% to Rs 119.96 crore in the quarter ended September 2022 as against Rs 112.05 crore in the quarter ended September 2021.
Total expenses were up 8.2% year on year to Rs 502.66 crore during the three months ended September 2022. Cost of raw materials consumed jumped 41.12% YoY to Rs 184.36 crore during the period under review.
During the quarter, revenue from grooming segment stood at Rs 489.40 crore, up 15.84% YoY while revenue from oral care segment stood at Rs 130.52 crore, down 13.47% YoY.
LV Vaidyanathan, managing director of Gillette India said, “Despite continued macroeconomic challenges and significant headwinds, we have started the fiscal on a strong note with sales and profit both growing. We remain committed to our integrated strategies, which have enabled us to build and sustain strong momentum. As the nearterm continues to be marked by cost and operating challenges, we remain focused on productivity and innovation to drive balanced top and bottom-line growth.”
Gillette India is engaged in the manufacturing and sale of branded packaged fast-moving consumer goods in the grooming, portable power and oral care businesses.
The scrip rose 0.32% to currently trade at Rs 5,178.35 on the BSE.
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