Gillette Net Soars 141% To Rs 19.7 Cr

New Delhi, April 29 | Updated: Apr 30 2004, 05:30am hrs
Gillette India has announced that for the first quarter ended March 31, 2004, net profit was up 141 per cent to Rs 19.68 crore as against Rs 8.17 crore made in the same quarter of 2003. The company said, this is the highest profitability achieved by the company in a single quarter ever.

Turnover for Q1 2004 stood at Rs 111 crore, as against Rs 93.6 crore made in the same quarter last year. Sales contributions of new products launched in the last 12 months has been encouraging, the statement said. Gillette Indias grooming business grew 22 per cent and found growth drivers in the indigenously developed Gillette Vector Plus and the premium Mach 3. The companys oral care business grew 18.3 per cent.

Gillette Indias Duracell brand grew 53 per cent and executed an order for 2 million batteries for the electronic voting machines being used in the ongoing elections.