Gillette India profit drops 40.3% to Rs 52.38 crore in January-March

New Delhi: Shaving products maker Gillette India Ltd on Thursday reported a 40.31 per cent decline in net profit to Rs 52.38 crore for the January-March quarter 2020.

The company, which follows the July-June financial year, had reported a profit Rs 87.76 crore for the January-March quarter a year ago.

Its net sales were down by 12.66 per cent at Rs 406.57 crore during the quarter under review as against Rs 465.51 crore in the year-ago period, Gillette India said in a BSE filing.

“The company was forecasting sales growth of mid-single digit for the quarter before the lockdown. But following the nationwide lockdown to contain the spread of COVID-19, the business operations were severely disrupted across the country,” Gillette India said in a post earning statement.

Gillette India’s total expenses were at Rs 339.43 crore in January-March as against Rs 332.68 crore in the year-ago quarter, up 2.02 per cent.

Shares of Gillette India Ltd on Thursday settled at Rs 4,990.90 on BSE, down 1.67 per cent from the previous close.

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