The company’s board of directors recommended a dividend of Rs.36 per equity share to their shareholders for the financial year ended June 30, 2022.
FMCG company, Gillette India’s earnings enriched in the quarter ending June 30, 2022. The company registered 2.5 folds jump in net profit to Rs.67.59 crore in June 2022 quarter compared to Rs.27.53 crore in the same quarter last year. On Friday, the company’s board of directors suggested a dividend of Rs.36 per equity share to their shareholders for the financial year ended June 30, 2022. The dividend will be paid between November to December this year.
The company registered 2.5 folds jump in net profit to Rs.67.59 crore in June 2022 quarter compared to Rs.27.53 crore in the same quarter last year.
However, in the quarter under review, the PAT declined by 2.5% from Rs.69.31 crore in the March 2022 quarter.
In June 2022 quarter, revenue from operations stood at Rs.552.89 crore rising by 26.82% from Rs.435.98 crore in June 2021 quarter, but lower by 2.4% against Rs.566.52 crore in the March quarter.
Gillette in its financial report highlighted that despite unprecedented headwinds from macroeconomic challenges and softening consumption trends during the fiscal, the Company delivered sales of Rs.2,256 crore, up 12% versus a year ago behind the strength of its product portfolio and improved retail execution. Profit After Tax (PAT) was Rs.289 crore, down 7%, largely behind commodity cost inflation. Compared to the fiscal two years ago, the Company’s sales are up 34% and Profit After Tax (PAT) is up 26%.
LV Vaidyanathan, Managing Director, Gillette India said, “Our commitment to our integrated strategies of a strong portfolio, superiority, productivity, constructive disruption, and an agile and accountable organization structure, has empowered us to deliver these consistent results this fiscal year, despite unprecedented challenges and disruptions in the macroeconomic and business landscape. This is a testament to the strength of our products and strategic choices to drive meaningful superiority across products, packaging, communication, retail execution, and value proposition.”
“Our strategy is fuelled by balancing innovation and industry-leading practices while driving productivity in everything we do. The cornerstone of all of this is our resilient organization,” he added.
He further said, “while the near-term continues to be marked by unprecedented challenges and uncertainties, we will continue to focus on our strategy which has consistently enabled us to deliver balanced growth and value creation.”
As per the regulatory filing, the board of directors recommended a dividend of Rs.36 per equity share having a face value of Rs.10 each), for the financial year
The dividend will be paid between November 25, 2022 to December 16, 2022, on approval of the members at the 38th Annual General Meeting. The company is yet to fix the record date for determining eligible shareholders for the dividend.
On BSE, Gillette shares closed at Rs.5,476.70 apiece up by Rs.152.65 or 2.87%. The company’s market cap is around Rs.17,845.95 crore.