Gillette announces Rs 6.46 cr profit for 2002

NEW DELHI: Gillette India on Thursday announced Rs 6.46 crore net profit for the year ended December 31, 2002, as compared to the net loss of Rs 27.79 crore registered in the previous year.
However, sales were lower by 15 per cent at Rs 383 crore on account of cessation of ''Duracell'' exports during the year under review, a company release said here on Thursday.
The company announced an enhanced dividend of 27.5 per cent.
"In 2002, We focussed on putting the India business on a profitable growth path through a programme of functional excellence. Gillette India enters 2003 with strong fundamentals, focussed goals of profitable business growth and consolidation of the gains of the past year," Managing Director Zubair Ahmed was quoted as saying.
He said the company has become debt-free with a 60 per cent fall in interest costs to Rs 5.5 crore last year.