Gillette India Sep quarter profit surges 88%

NEW DELHI, Nov 7:� Gillette India today reported a 88.29 per cent jump in net profit at Rs 33.29 crore for the quarter ended September 30.The company had posted a net profit of Rs 17.68 crore in the corresponding period last fiscal, Gillette India said in a statement.Net sales during the period under review were Rs 481.53 crore as against Rs 438.93 crore in the year-ago quarter, up 9.7 per cent, it said.Revenue from its flagship grooming segment was at Rs 333.94 crore compared with Rs 306.04 crore last fiscal.In a BSE filing, Gillette India said it has been informed by Procter & Gamble (P&G), which had earlier informed the company for the termination of distribution agreement of Duracell batteries with effect from� January 29, 2016, to continue to distributor "till February 29, 2016 or any date as may be agreed between the two parties". (PTI)