Gilleette, half shave out it's profit !!

   Gillette India net profit down 51.45% at Rs 20.73 crore

Personal care products maker Gillette India Ltd (GIL) posted 51.45 per cent dip in net profit for the third quarter ended March 31 at Rs 20.73 crore on the back of high advertising spends.
In the same period last year, the company's net profit was Rs 42.70 crore, Gillette said in a filing to the Bombay Stock Exchange .


GIL's net sales for the three month period under review, however, grew 18.61 per cent at Rs 263.11 crore compared to Rs 221.81 crore during the quarter ended March 31, 2010.


"There has been a substantial increase in advertising and sales promotion expenses," the filing said.


GIL spent Rs 72.68 crore on advertising and sales promotion during the three months ended March 31, 2011, compared to Rs 42.16 crore in the same period last year.

Marico to invest Rs 37 cr to set up facility in Bangladesh

      Indian personal care products maker Marico today said it will invest up to Rs 37 crore to set up a manufacturing plant in Bangladesh.
"We will be investing 50-60 crore Taka (Rs 30-37 crore) to set up a manufacturing unit here," Marico Ltd Chairman & Managing Director Harsh Mariwala told PTI here.
With this, the total investment of the company in Bangladesh will go up to 100 crore Taka (about Rs 62 crore), he said.
Marico Ltd listed itself in Bangladesh in 2009 and has already invested about 20 crore Taka to acquire two brands and 4 crore Taka to set up a Kaya Skin Care Clinic here. It has one manufacturing plant in the country.