This Article is From Aug 23, 2016

Gillette Posts 35% Fall In Q4 Profit

Gillette Posts 35% Fall In Q4 Profit
New Delhi: FMCG major Gillette India on Tuesday reported a 35.42 per cent decline in standalone net profit at Rs 46.90 crore for the fourth quarter that ended on June 30, 2016, on account of a drop in oral care segment sales.

The company, which follows July-June as financial year, had reported a net profit of Rs 72.63 crore for the corresponding period a year ago, Gillette India Ltd (GIL) said in a filing to the BSE.

Net sales on a standalone basis were down 5.66 per cent at Rs 509.30 crore in the quarter under review, as against Rs 539.86 crore in the corresponding period a year ago.

GIL's revenue from the grooming segment was up 8.65 per cent at Rs 416.00 crore, as compared to Rs 382.86 crore in Q4 of financial year 2015-16 while that from the oral segment was down 28.42 per cent at Rs 93.69 crore as against Rs 130.90 crore in the year-ago period.

For the financial year ended on June 30, 2016, Gillette's standalone net profit was up 34.71 per cent at Rs 213.03 crore as against Rs 158.13 crore in the previous year. 

Net sales for financial year 2015-16 were at Rs 2,051.67 crore, up 4.11 per cent compared to Rs 1,970.56 crore in the previous year.

Meanwhile, GIL said in a separate filing that its board in a meeting held on Tuesday recommended a dividend of Rs 20 per equity share of having a nominal value of Rs 10 each for financial year ended June 30, 2016.

GIL has brand as Gillette for the grooming segment and Oral-B for the oral segment.

Shares in Gillette India settled 3.84 per cent lower at Rs 4,580.00 apiece on BSE, whose benchmark Sensex index finished up 0.02 per cent.