Gillette India Ltd. announces third quarter results
Gillette India Ltd. (GIL) announced its financial results for the quarter ended March 31, 2020. The company delivered sales of ₹407 crores, down 13% vs year ago. The company was forecasting sales growth of mid-single digit for the quarter before the lockdown. But following the nationwide lockdown to contain the spread of COVID-19, the business operations were severely disrupted across the country. In a challenging market environment, both Grooming and Oral Care businesses continued to grow market shares during the quarter and are at their historical high shares. The Profit After Tax (PAT) was ₹52 crores, down 40% vs year ago, largely behind reduced advertising spend in the corresponding quarter last year.
Madhusudan Gopalan, Managing Director, Gillette India Ltd. said, “During this unprecedented crisis, our organization has been focusing on protecting the health and safety of each other, serving the Indian consumers with our personal hygiene products which become critical now more than ever, and to support communities in need through our relief efforts. In the near-term, we will focus on scaling up our operations to maximize the availability of our products to meet consumer needs, while following health and safety guidelines by the government authorities. With the strength of our product portfolio, we are well positioned to serve the needs of our consumers by offering superior propositions and value across different price segments. We are also stepping up to be a force for good through our COVID-19 response and relief program ‘P&G Suraksha India’ where we are supporting government and relief organizations through in-kind, product and critical supplies donations, and creating awareness about preventive measures to combat the spread of COVID-19.”