Gillette India’s Q1 net profit declines on higher advertising spends

Mumbai (Maharashtra) [India], Nov 6 : Gillette India Ltd‘s profit after tax for its first quarter (July to September) stood at Rs 62 crore, down by 5 per cent due to increased spending on advertising and innovation.

The company follows July to June financial year. It delivered sales of Rs 462 crore, up 1 per cent versus a year ago in a challenging market environment. “In a challenging macro-economic environment, we delivered resilient growth in the quarter by raising the bar on superiority, improving productivity and strengthening the organisation culture,” said Managing Director Madhusudan Gopalan.

“We will continue to remain focused on these strategies in line with our aim to drive balanced growth,” he said in a statement.

In the fiscal year ended June 30, the company had reported sales totalling Rs 1,862 crore, up 11 per cent year-on-year behind strong brand fundamentals.

Gillette India is one of India’s well-known fast-moving consumer goods (FMCG) companies with some of the world’s leading brands Gillette and Oral B.

The post Gillette India’s Q1 net profit declines on higher advertising spends appeared first on Digpu News Network.