Laxman Narasimhan said condom sales fell in most markets, including the UK, during March as lockdowns limited opportunities for sexual activity.
He also said established couples were being less intimate than usual.
“Intimate occasions are going down and that is a manifestation of anxiety,” he said.
The firm, which has seen strong sales of other products such as disinfectants and cough syrups, blamed the impact of “stay at home” policies on consumers.
Mr Narasimhan said Italians and Britons in particular had been less intimate, although the opposite was true in China where lockdowns are now being lifted.
“What you see is this virus is having a toll on the number of intimate occasions in the UK,” he said.
Since the UK lockdown began on 23 March, people who do not live in same household have not been allowed to meet.
Those in new relationships were also given just a day to decide whether they would move in together or quarantine themselves separately, leaving some couples on hold.