Gillette India sales plunge 24 pc in Q4 FY20

Mumbai (Maharashtra) [India], Aug 26 (ANI): Gillette India on Wednesday reported 24 per cent fall in its sales during the quarter ended June at Rs 351 crore as business operations were disrupted across the country following a nationwide lockdown imposed to contain the spread of Covid-19.
The company follows July to June financial year. Its profit after tax for Q4 FY20 slipped two per cent year-on-year to Rs 45 crore.
In the entire fiscal ended June, the company delivered sales of Rs 1,679 crore, down 10 per cent versus a year ago and profit after tax of Rs 230 crore, down 9 per cent.
“With the easing of lockdown, we saw a sharp recovery in June and July to pre-COVID levels,” said Managing Director Madhusudan Gopalan.
“While the unprecedented market challenges and uncertainties remain in the near-term, we will continue to stay focused on our strategy to drive superiority and improve productivity, and aim to drive balanced growth,” he said in a statement.
The company is stepping up to serve the community by partnering with government and relief organisations through in-kind, product and critical supplies donations. It is also creating awareness about preventive measures to combat the spread of Covid-19.
The board of directors has recommended a final dividend of Rs 49 per equity share for the financial year ended June.
Gillette India is one of India’s well-known fast-moving consumer goods (FMCG) companies with some of the world’s leading brands Gillette and Oral B. (ANI)