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Our Bureau

New Delhi , Oct. 15

GILLETTE India has announced an 8.23 per cent lower net profit at Rs 15.6 crore for the third quarter ended September 30, 2004 even as net sales were up 16 per cent to touch Rs 107.35 crore.

However, for the nine months ended September 30, 2004, the company posted about 24 per cent higher net profit at Rs 54.39 crore on 12.5 per cent higher net sales at Rs 307.99 crore. The company said in a statement that the decline in net profit for third quarter was due to Rs. 11.5 crore increase in marketing spend as compared to the corresponding period last year.

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