Shaving and oral cleaning products maker, Gillette India reduced its advertising and sales promotion spends by 49% YoY during the quarter ending June 30, 2023.
The company, which follows the July-June financial year, spent Rs 44.18 crore on advertising and sales promotion in the fourth quarter ended June 2023, a sharp decline from Rs 86.62 crore spent in the corresponding quarter of the previous fiscal.
The ad spends in the previous quarter ending March 31, 2023, was at 77.56 crore.
The company reported a 35.74% rise in profit after tax (PAT) at Rs 91.75 crore for the fourth quarter ended June 2023 helped by sales growth and increased productivity.
Gillette India reported a profit of Rs 67.59 crore for the corresponding quarter of the preceding year.
Revenue from operations increased 12.03% to Rs 619.44 crore during the quarter under review as against Rs 552.89 crore a year ago, Gillette India said in a BSE filing.
"PAT for the quarter was Rs 92 crore, up 36% versus a year ago behind strong sales growth and productivity in the current quarter," said an earning statement from Gillette India.
Total expenses in the quarter were at Rs 500.58 crore, up 8.30 per cent from the year-ago period.
Total income of the company, which owns leading brands Gillette and Oral B - in the June quarter increased 12.59% to Rs 624.22 crore.
This was "driven by strong brand fundamentals and superior retail execution," said Gillette India.
Revenue from the grooming segment was Rs 485.37 crore, up 13.86%. Similarly, oral care rose 5.88% to Rs 134.07 crore.
For the financial year ending June 30, 2023, Gillette India PAT rose 22.93% to Rs 355.68 crore. It was at Rs 289.33 crore in the year-ago period.
Revenue from operations for the financial year grew 9.79% to Rs 2,477.05 crore.
Gillette India Managing Director LV Vaidyanathan said," The ...quarter provided a strong finish to fiscal year, closing at double-digit top-line and bottom-line growth. Our consistent results can be attributed to our robust integrated growth strategies of focusing on daily use categories where performance drives brand choice, irresistible superiority, productivity."
Meanwhile, in a separate filing, Gillette India informed about top-level management changes and said Saurabh Bajpai shall cease to be Grooming Category Leader, effective August 31, 2023, due to a change in his assignment at P&G.
Abhishek Desai will be appointed as Vice-President and Category Leader, Grooming and Brand Operations leader effective September 1, 2023, it added.