(Reuters) – Gillette India Ltd, known for its shaving razors, posted a more than 48% jump in third-quarter profit on Thursday, helped by lower income tax expenses and the introduction of more premium products.
Gillette India, in which consumer goods giant Procter & Gamble Co holds a 75% stake, said its profit stood at 1.03 billion rupees ($12.6 million) for the three months ended March 31, compared with 693.1 million rupees a year earlier.
Total expenses rose nearly 11% in what the maker of Oral B toothbrushes called a “challenging” cost environment. However, income tax expenses more than halved to 201.7 million rupees.
Revenue from its mainstay grooming segment, which accounts for over three-fourths of the total revenue, rose 10%, while oral care reported a nearly 7% increase.
Total revenue from operations rose 9.3% to 6.19 billion rupees.
Shares of the company closed 0.12% down on Thursday ahead of the results. It fell 14% in the January-March quarter, compared with a 4% rise in the benchmark Nifty FMCG Index.
($1 = 81.7800 Indian rupees)
(Reporting by Aleef Jahan and Manvi Pant in Bengaluru)
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