The top-line performance was driven by higher consumption or volume growth. The main enablers of higher consumption were new launches by personal care companies and the Covid-19-led spike in demand for hygiene and immunity-boosting products.
The personal care industry recorded its strongest sales growth during the December 2020 quarter. The industry's sales revenues continued to grow for the second consecutive quarter and the growth was at 18.1 per cent, the highest in over a decade.
Smart expansion at the top-line helped the industry register strong growth in its operating and net profits. Operating profits grew by 20.9 per cent.
The impact of the industry's post-operating expenses remained minimal. This helped the personal care industry increase its net profits by 21.2 per cent.
Net profit margin expanded from 16.9 per cent during the December 2019 quarter to 17.4 per cent during the December 2020 quarter.SHIVANI SHARMA, PRAGATI SRIVASTAVA