Gillette India Ltd.'s first-quarter profit fell on the back of higher advertising and innovation spends.
Profit of the shaving cream maker fell 5.6 percent year-on-year to Rs 61.8 crore in the quarter ended September, it said in an exchange filing. That was because the company's advertising and promotion spends increased by 21.4 percent over last year to Rs 65.85 crore, it said.
The company follows July to June accounting cycle as its financial year.
Revenue rose by one percent over the previous year to Rs 462.2 crore in the three-month period yet declined 0.4 percent sequentially.
“In a challenging macro‐economic environment, we delivered resilient growth in the quarter by raising the bar on superiority, improving productivity and strengthening the organisation culture,” Madhusudan Gopalan, managing director of Gillette India, was quoted as saying in a statement accompanying the filing.
He said the company will continue to remain focused on these strategies to drive balanced growth.
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