(Reuters) -Gillette India reported a 25.6% increase in profit for the quarter ended June 30 on Thursday, helped by robust demand for its grooming products.
The Procter & Gamble-owned company, known for its razors and shaving creams, reported 1.46 billion rupees ($16.7 million) in profit, compared with 1.16 billion rupees in the same period a year earlier.
Gillette India is getting a boost from rising demand for its latest grooming gear, as self-care becomes mainstream. Sleek upgrades like the Gillette Guard and elevated Mach 3 razors are gaining traction, with strong interest in premium products adding a lift to its revenue.
The company said in June that consumers are prioritising value over cost, showing a growing willingness to spend more on products that deliver superior performance.
Revenue from its mainstay grooming segment, which produces razors and accounts for over 80% of the company’s total revenue, increased 11% to 5.77 billion rupees during the reported quarter.
Meanwhile, revenue from its smaller segment, oral care, rose 3.3%.
The company’s revenue from operations rose 9.5% year-on-year to 7.07 billion rupees, while total expenses rose 4.7%, led by a 19.4% growth in advertising and sales promotion expenses.
Gillette India’s shares rose 2.2% to 10,871 rupees in Mumbai.
($1 = 87.5525 Indian rupees)
(Reporting by Meenakshi Maidas in Bengaluru)
