Business News | Gillette India Sales Plunge 24 Pc in Q4 FY20
Get latest articles and stories on Business at LatestLY. 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.
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)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)