Gillette India stock zooms 10 percent as investors cheer robust Q2 earnings

In the past 12 months, Gillette India stock has gained 48 percent. In comparison, Nifty rose 28 percent during this period.

Shares of Gillette India soared up to 10 percent on October 29 after the grooming products maker reported a 43.5 percent rise in net profit to Rs 133.01 crore for the quarter ended September 2024, led by a broad-based growth.

The company's revenue from operations increased 17.11 per cent YoY to Rs 781.82 crore.

"The growth has been broad-based amidst continuing green shoots in rural markets," the company said in its statement. Gillette India's total expenses rose 11 percent in the July-September quarter to Rs 611.62 crore.

According to the exchange filing, the company's revenue from the grooming segment grew 23.02 percent YoY to Rs 648.9 crore during the quarter under review. However, oral care revenue fell 5.11 percent YoY to Rs 132.92 crore in the reporting quarter.

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Meanwhile, in a separate filing, Gillette India informed its Director & CFO Gautam Kamath has tendered his resignation as he moves for global role as Vice President Corporate Strategy in the P&G Global Headquarters.

The company has appointed Srividya Srinivasan as CFO of the Company and Additional (Executive) Director effective from November 1.

At 10:07 am, Gillette India shares were trading over 9 percent higher at Rs 9,290 on the National Stock Exchange (NSE). The stock has risen around 43 percent so far this year, outperforming Nifty's returns of 12 percent.

In the past 12 months, the counter has gained 48 percent. In comparison, Nifty rose 28 percent during this period.

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