Gillette India posts slip in Q3 profit on rigid competition [Reuters]
Procter & Gamble Company (The) (PG)
Last procter & gamble company (the) earnings: 4/17 07:00 am
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Source: Reuters
Gillette India, known for its Mach 3 brand of shaving razors, reported a profit of 990.9 million rupees ($11.9 million) for the January-March quarter, compared with 1.03 billion rupees a year earlier. Consumer goods makers are increasingly facing strong competition from smaller manufacturers who are better equipped to occupy shelf space due to declining commodity prices. Revenue from Gillette's core grooming segment, which accounts for 82% of the total, rose nearly 14% to 5.58 billion rupees, while the cost of raw materials consumed fell 6.3%. Parent and consumer goods giant Procter & Gamble Co had its annual core profit forecast earlier in April, driven by price increases and resilient demand. Gillette India's shares dipped 0.8% ahead of the results. It rose 1.2% in the March quarter, compared with a 5.3% fall in the Nifty FMCG index ($1 = 83.4499 Indian rupees) Coming soon: Get the latest news and expert analysis about the state of the global economy with Reuters Econ W
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Earnings
- 4/19/24 - Beat
PG
Sec Filings
- 5/16/24 - Form 4
- 5/15/24 - Form 144
- 5/13/24 - Form 144
- PG's page on the SEC website