Shaving product maker Gillette India Ltd has reported a 5.91 percent rise in first-quarter profit, helped by strong demand for its grooming products ahead of the festive season.
Gillette India, which is 75 percent owned by Procter & Gamble, said its net profit rose to Rs 867.8 million for the three months that ended September 30, from Rs 819.3 million 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 percent to Rs 6.2 billion.
Revenue from its grooming segment rose 15.8 percent to Rs 4.9 billion, while that from its oral care products unit fell 13.5 percent to Rs 1.3 billion.
"We remain committed to our integrated strategies, which have enabled us to build and sustain strong momentum. As the near term continues to be marked by cost and operating challenges, we remain focused on productivity and innovation to drive balanced top and bottom-line growth," LV Vaidyanathan, Managing Director, Gillette India said.