Nov 9 (Reuters) - Beauty products maker Coty Inc on Thursday reported a better-than-expected quarterly profit, gaining from strong demand for higher margin brands such as Younique and ghd.
Total sales in its consumer beauty business, which is its biggest by revenue, rose 2 percent on a constant currency basis.
In the past year, Coty has bought more than 40 brands from Procter & Gamble Co as well as the personal care and beauty business of Brazil's Hypermarcas SA to boost its consumer beauty business.
The company posted net loss of $19.7 million, or 3 cents per share, in the first quarter ended Sept. 30, compared with a break even in the year-earlier quarter, due to higher expenses related to the P&G deal.
Excluding items, it earned 10 cents per share, compared to analysts' estimates of a profit of 7 cents per share.
Net sales more than doubled to $2.24 billion, but was in line with analysts' estimates, according to Thomson Reuters I/B/E/S. (Reporting by Gayathree Ganesan and Uday Sampath Kumar in Bengaluru; Editing by Anil D'Silva)