(Reuters) – Shaving razors maker Gillette India Ltd reported a 5.6% rise in its second-quarter revenue on Wednesday, propelled by larger costs and sustained demand for its grooming merchandise.
Gillette India, wherein shopper items big Procter & Gamble Co has a 75% stake, mentioned its internet revenue rose to 744.5 million rupees ($9.10 million) for the three months ended Dec. 31, from 705 million rupees a 12 months earlier.
Makers of fast-moving shopper items, together with P&G and Unilever, have been elevating costs of their merchandise in a bid to cushion the affect of surging inflation and rising supply-chain prices.
With complete bills surging 10% on account of a 14% soar in uncooked and packaging supplies prices through the quarter, the shaving cream and Oral B toothbrush maker mentioned it anticipated prices and working challenges to proceed within the near-term.
Whereas the oral care income fell 8.6%, the grooming section that accounts for 80% of Gillette India’s revenues surged 15.6%.
This helped the corporate to report a close to 10% rise in income from operations.
Shares of the corporate ended about 0.3% decrease on Wednesday and about 4% in 2022.
($1 = 81.7990 Indian rupees)
(Reporting by Kashish Tandon and Aleef Jahan; Enhancing by Rashmi Aich)
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