Gillette India's Q1 profit rises on demand for grooming products
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Gillette India Ltd reported a 5.9% rise in first-quarter profit on Friday, helped by strong demand for its grooming products ahead of the festive season.
Gillette India, which is 75% owned by Procter & Gamble, said its net profit rose to 867.8 million rupees ($10.52 million) for the three months ended Sept. 30, from 819.3 million rupees a year earlier.
Demand for branded personal care products from high-income consumers has held up. With prices of certain commodities softening, profits for fast-moving consumer goods companies are expected to improve, according to analysts.
Gillette, which makes shaving system and cartridges as well as Oral B toothbrushes, said its quarterly revenue from operations rose 8.2% to 6.2 billion rupees.
Revenue from its grooming segment rose 15.8% to 4.9 billion rupees, while that from its oral care products unit fell 13.5% to 1.3 billion rupees.
