Gillette India Q3 up 4.8% to Rs 54.75 cr

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New Delhi, Feb 7 Gillette India today reported 4.80 per cent rise in net profit to Rs 54.75 crore for the second quarter ended on December 31, 2016 impacted by demonetisation.

The company, which follows July-June financial year, had reported net profit of Rs 52.24 crore for the October-December period a year ago, Gillette India said in a BSE filing.

However, Gillette India’s total income during the quarter under review was down 10.45 per cent to Rs 396.82 crore due to liquidity crunch in the market, as against Rs 443.13 crore in the corresponding quarter of the previous fiscal.

“During the quarter, there was an unforeseen liquidity crunch in the market that impacted trade inventories and consumer offtake. As a result, sales decreased to Rs 397 crore, down 10 per cent versus last year,” said Gillette India in a statement.

Its total expenese during the period was also down 10.89 per cent to Rs 331.33 crore as against Rs 371.83 crore in the year-ago period.

Gillette’s revenue from grooming segment was down 9.106 per cent at Rs 313.30 crore as against Rs 344.69 crore, while revenue from oral care business fell 15.15 per cent to Rs 83.52 crore from Rs 98.44 crore a year ago.

Shares of the company ended 0.93 per cent down at Rs 4,167 apiece on BSE.