MUMBAI: Gillette India Limited’s (GIL) first-quarter profit fell on the back of higher advertising and innovation spends.
GIL announced its financial results for the first quarter ended September 30, 2019.
“In a challenging macro‐economic environment, we delivered resilient growth in the quarter by raising the bar on superiority, improving productivity, and strengthening the organization culture. We will continue to remain focused on these strategies in line with our aim to drive balanced growth”, Madhusudan Gopalan, Managing Director, Gillette India Ltd. Said.
The company’s Profit After Tax (PAT) for the quarter stood at Rs 61.8 crore, which was down by 5.6 per cent due to increased spending on advertising and innovation.
The company’s advertising and promotion spends increased by 21.4 per cent over last year to Rs 65.85 crore.
The company follows the July to June accounting cycle as its financial year. Revenue rose by one per cent over the previous year to Rs 462.2 crore in the three-month period yet declined 0.4 per cent sequentially.
In the fiscal year ended on June 30, the company had reported sales totalling Rs 1,862 crore, up 11 per cent year-on-year behind strong brand fundamentals.
With inputs from media reports
Image credit: ANI