Companies

Reckitt says India health products business witnessed double-digit growth in Q1

Meenakshi Verma Ambwani New Delhi | Updated on April 28, 2021

Company’s hygiene business saw strong growth driven by Lizol and Harpic

Global consumer goods major Reckitt (formerly known as Reckitt Benckiser) on Wednesday said that its health products business in India witnessed a double-digit growth driven by brand Dettol in the January-March period. It also said that hygiene business in India saw strong growth driven by brands such as Lizol and Harpic.

However, the company’s management also stated that as countries around the world are in different stages of the pandemic, it is monitoring key indicators to understand how demand dynamics will play out over the course of the year.

Also read: Reckitt Benckiser rebrands itself as Reckitt

In the earnings call, Reckitt’s CEO Laxman Narasimhan said, “As is to be expected, the underlying drivers for near-term demand for disinfectant products are dynamic as countries around the world are at significantly different stages of the pandemic. In some countries such as India and Brazil, the situation is deteriorating markedly while others such as Australia and China have seen the virus largely recede.”

“This has an implication on the nature of behaviour that consumer’s exhibit. We are clear though that demand for hygiene does remain at elevated levels compared to pre-pandemic,” he added.

Hygiene products business

Talking about its hygiene products business in its Q1 earnings release, the British major said, “By geography, most regions grew in the double-digit range, with particularly strong performances in North America, UK and India.”

Meanwhile, the company said that the company’shealth products business recorded double-digit growth in India, with strong performances in China, the UK and Russia.

The company said that Dettol revenue was stable year-on-year as a result of the significant pantry loading which took place in the comparative period, and overall demand remains significantly higher than the levels seen pre-Covid.

“In India, revenue growth (for Dettol) has remained strong as underlying demand and expansion of key segments such as disinfectant spray and laundry sanitiser have more than offset increased competitive pressures,” Reckitt added in its earnings statement.

Published on April 28, 2021

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