Grooming Giant Sees 43.5 Per Cent Profit Surge in Q1; Stock Reaches All-Time High
Gillette India Ltd. reported a strong set of results for the quarter ended September 2024, with profit rising by 43.5 per cent to reach Rs 133.01 crore
On Monday, Gillette India Ltd. reported a strong set of results for the quarter ended September 2024, with profit rising by 43.5 per cent to reach Rs 133.01 crore. In comparison, the grooming products maker had reported a profit of Rs 92.69 crore in the corresponding quarter of the previous year. Gillette India follows a July-June financial year.
For the July-September quarter, revenue from operations grew by 17.11 per cent, coming in at Rs 781.82 crore, up from Rs 667.55 crore in the same period last year. The company attributed this growth to steady demand across its product categories and emerging positive trends in rural markets.
Notably, the grooming segment, which comprises 83 per cent of Gillette India's total revenue, recorded a revenue rise of 23 per cent, reaching Rs 649 crore. This robust performance in grooming products, including razors and blades, underpinned Gillette's overall revenue growth.
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In a separate announcement, Gillette India disclosed that its current Director and CFO, Gautam Kamath, will be moving to a global role as Vice President of Corporate Strategy at P&G’s Global Headquarters. The company has appointed Srividya Srinivasan as the new CFO and Additional (Executive) Director, effective November 1, 2024.
The company’s recent financial performance has driven strong gains in its stock price, with shares up by 18.7 per cent in the past three trading sessions. Gillette India’s market capitalisation now stands at Rs 30,378.55 crore, with shares reaching an all-time high of Rs 9,899.25 in today’s intraday session.
About Gillette India Ltd.
Gillette India Ltd. is a leading player in the fast-moving consumer goods (FMCG) sector, known for manufacturing and distributing branded grooming products, including razors, blades, shaving creams, gels, and aftershave.
Disclaimer: This article is for informational purposes only and not investment advice.