BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Nirmal Bang Report
Gillette India Ltd.’s Q3 FY21 (June-ending FY) revenue grew by 32% YoY to Rs 5.37 billion (versus our estimate 27.7% growth to Rs 5.19 billion) on a base of 12.7% decline.
Ebitda grew by 74.8% YoY to Rs 1.41 billion (versus our estimate 67.8% growth to Rs 1.35 billion).
Adjusting for the one-time write-back of provision of ~Rs 163 million (resulting from the settlement of certain tax disputes) included in other income, profit after tax grew by 70.6% YoY to Rs 894 million.
Given the resurgence of Covid-19 cases in the country followed by vertical lockdowns, we expect some adverse impact on the topline in the very near term.
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