Gillette India Q2 ad spends down 4% to Rs 75.77 crore

Shaving products maker Gillette India Ltd on Tuesday reported a 4% reduction in adex to Rs 75.77 crore for the second quarter ended December 2023.

Its advertising expenses were Rs 78.96 crore in the corresponding quarter of the previous year.

On a QoQ basis, the brand reduced its advertising spends by 26%. The company’s adex was Rs 102.9 crore in Q1 of the current financial year.

The company, which follows the July-June financial year, reported half-yearly advertising expenses worth Rs 178.65 crore.

The FMCG company reported a 39.62% rise in profit to Rs 103.95 crore for the second quarter ended December 2023, helped by productivity interventions and moderation of inflation.

The company had reported a profit of Rs 74.45 crore in the year-ago period.

Its revenue from operations increased 3.36% to Rs 639.46 crore during the quarter under review as against Rs 618.62 crore a year ago, Gillette India said in a regulatory filing.

This was "driven by a robust portfolio, superior retail execution and strong brand fundamentals," the company said in its earnings statement.

Its profit grew around 40% largely driven by productivity interventions, product price mix and moderating cost inflation.

Gillette India's total expenses declined 1.45% to Rs 507.61 crore in the December quarter.

Its revenue from the grooming segment was Rs 514.21 crore and Rs 125.25 crore from the oral care segment in the October-December period.

During the quarter, the total income of the company, which owns leading brands Gillette and Oral B, climbed 4% to Rs 646.65 crore.

The company also announced an interim dividend of Rs 85 per equity share for the financial year 2023-24, which includes a one-time special dividend of Rs 40 per equity share to commemorate 40 years in India.

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