Looks like staying at home has certainly gone well for this men’s hair grooming MNC.
The company, for Q1CY 21 (year ending 30th June), posted a 12% (YoY) increase in revenue from operations at Rs.516 crore and net profit showed a huge 54% surge at Rs.95 crore.
The reduction in operating costs, which were at 76% of total revenue v/s 81% (YoY), plus Rs.2.22 crore of prior year tax adjustment added, helped the bottomline.
Its finance cost is currently at Rs.25 lakh, down from Rs.2.40 crore (QoQ) and Rs.80 lakh (YoY). A 33% drop in advertising costs was a major contributor to bringing down the overall expenses.
On an equity of Rs.32.59 crore, its EPS for the quarter was at Rs.29.24 (FV of Rs.10).
Interestingly, the company, in its way of responding to the Covid, launched the ‘Gillette Barber Suraksha Program,’ to support the barber community in India get back on their feet. The program is enabling barbers to restart their businesses while educating them on maintaining high standards of safety, health and hygiene.
The stock, which had closed yesterday at Rs.5458, opened over 2.5% higher at Rs.5600, rising further by almost 5.5% to Rs.5744.90. Its 20% UC for the day is at Rs.6550.20.