Gillette India net profit falls 1.85 pc to ₹44.97 cr in Jun quarter1 min read . Updated: 26 Aug 2020, 04:18 PM IST
- Gillette India's total income during the June 2020 quarter declined 24.36 per cent to ₹352.74 crore
- Gillette India Managing Director Madhusudan Gopalan said, In April-May, our sales were significantly impacted due to the coronavirus pandemic
NEW DELHI : Gillette India Ltd on Wednesday reported a 1.85 per cent fall in net profit to ₹44.97 crore for the fourth quarter ended June 30.
The company, which follows July-June financial year, had reported a net profit of ₹45.82 crore in the corresponding period a year ago, Gillette India said in a BSE filing.
Gillette India's total income during the June 2020 quarter declined 24.36 per cent to ₹352.74 crore, from ₹466.39 crore a year ago.
The company attributed the fall in profit to "a one-time hurt in the corresponding quarter of the previous year".
Gillette India Managing Director Madhusudan Gopalan said, "In April-May, our sales were significantly impacted due to the coronavirus pandemic-related lockdown, which reduced the shaving frequency among consumers."
He added that with the easing of the lockdown, the company saw a sharp recovery in June and July to pre-COVID-19 levels. "While the unprecedented market challenges and uncertainties remain in the near term, we will continue to stay focused on our strategy to drive superiority and improve productivity, and aim to drive balanced growth."
The company's board of directors has recommended a dividend of ₹49 per equity share for the financial year ended June 30, 2020.
Shares of Gillette India Ltd on Wednesday settled 2.45 per cent higher at ₹5,549 on the BSE.
This story has been published from a wire agency feed without modifications to the text.