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Gillette Q3 net profit dips 4% on one-time tax outgo, revenue up 10%
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
The company delivered sales of ₹681 crore, up 10% from a year ago, driven by innovations across the portfolio. Shares of Gillette India Ltd ended at ₹6,212.65, down by ₹43.50, or 0.70%, on the BSE.
Shaving products maker Gillette India Ltd on Monday (April 29) reported a 3.5% year-on-year (YoY) dip in net profit at ₹99.1 crore for the third quarter that ended March 31, 2024.
In the corresponding quarter, Gillette India posted a net profit of ₹102.7 crore, the company said in a regulatory filing. The company’s revenue from operations increased 9.9% to ₹680.7 crore against ₹619.1 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA rose 19.9% to ₹160.3 crore in the third quarter of this fiscal over ₹133.7 crore in the year-ago period.
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The EBITDA margin stood at 23.6% in the reporting quarter against 21.6% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The company delivered sales of ₹681 crore, up 10% from a year ago, driven by superior innovations across the portfolio, and strong brand fundamentals. Reported profit after tax was down 4% versus a year ago due to one-time tax impacts in the base and current quarters.
L.V. Vaidyanathan, Managing Director of Gillette India, said, “We continue to deliver strong top line and share growth driven by our teams’ excellent execution of our integrated growth strategy.”
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“We remain committed to a focused product portfolio of daily use categories,” Vaidyanathan said.
The results came after the close of the market hours. Shares of Gillette India Ltd ended at ₹6,212.65, down by ₹43.50, or 0.70%, on the BSE.
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