July 30 (Reuters) – Personal care products maker Gillette India (GILE.NS), on Thursday reported a 9.4% rise in first-quarter profit, helped by steady demand for its grooming products.
-
The company, a unit of U.S. consumer goods major Procter & Gamble (PG.N),posted standalone profit of 1.59 billion rupees ($16.61 million), up from 1.46 billion rupees a year earlier.
-
Revenue rose 10.8% to 7.83 billion rupees, driven by a nearly 9% increase in the firm’s grooming segment, which accounts for more than 80% of total revenue. Its smaller oral care segment grew nearly 19%.
-
Expenses rose 10.9% due to higher raw material costs.
-
Despite the results, shares of the company fell as much as 2.8% after the results, before paring some losses to trade 2% lower.
($1 = 95.7200 Indian rupees)
Reporting by Abhirami G in Bengaluru; Editing by Sonia Cheema.
