Gillette India Ltd posts net profit of Rs. 102.70 crores in Q3 FY2023

Gillette India Limited (GIL) announced today its financial results for the quarter ended March 31, 2023. The Company delivered sales of ₹ 619 crores, up 9% vs year ago behind strong brand fundamentals, strength of product portfolio, superior innovation, and improved retail execution. In a challenging cost environment, the Company continued to make sequential progress in profit growth with Profit After Tax (PAT) at ₹ 103 crores, up 12% operationally vs year ago fueled by top-line growth, premiumization and productivity interventions.

Reported profit after tax was up 48% vs year ago due to one-time tax impacts.

Gillette continues to maintain market leadership, recording highest-ever share in the quarter.

LV Vaidyanathan, Managing Director, Gillette India Ltd. said, "We have continued to deliver strong growth in sales and profit, despite a challenging operating environment. We remain committed to our integrated strategies of a focused product portfolio, superiority, productivity, constructive disruption, and an agile and accountable organization structure. These strategies build on each other and have collectively aided us in driving and sustaining a strong momentum. Our team's strong execution of these strategies has enabled four quarters of consistent sales and profit growth. We're confident they remain the right strategies to deliver balanced growth and value creation going forward."

Source : Equity Bulls

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GilletteIndia Q3FY23 9MFY2023 ResultUpdate