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Gillette India Net Profits Up
Jul 31, 2003
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Gillette India, a maker of personal care products and batteries, said on Tuesday that its net profit soared by more than 15 times for the first half ended June 2003 to Rs 269.60 million (U.S. $5.84 million) from Rs 16.90 million a year ago.

Net sales, however, fell by a marginal 1.66 percent to Rs 1,810.80 million ($39.26 million) during the January to June 2003 period from Rs 1,841.40 million a year earlier, a company statement said.

For the second quarter ended June 30, 2003, net profit surged by 338 percent to Rs 187.90 million ($4.07 million) from Rs 42.90 million in the previous year.

The company reduced its total expenditure by 35 percent to Rs 630.50 million ($13.67 million) during the April to June 2003 quarter from Rs 970 million last year. (Asia Pulse)

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