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  1. Procter & Gamble Hygiene and Health Care reports 6% decline in Q4 PAT at ₹154 crore

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Procter & Gamble Hygiene and Health Care reports 6% decline in Q4 PAT at ₹154 crore

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2 min read | Updated on May 03, 2024, 13:16 IST

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SUMMARY

Procter & Gamble Hygiene and Health Care said the decline in net profits was due to one-time tax impacts in the base as well as current quarters. The company reported sales of ₹998 crore, up 13% compared to a year ago which it claimed was driven by a robust portfolio and premiumisation to meet evolving consumer needs, and strong retail execution.

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Procter & Gamble Hygiene and Health Care reports 6% decline in Q3 PAT at ₹154 crore

Procter & Gamble Hygiene and Health Care (PGHHCL) announced a 6% year-on-year (YoY) decline in its net profits at ₹154 crore. Shares of the company were trading 0.48% lower on Friday.

The company said the decline in net profits was due to one-time tax impacts in the base as well as current quarters.

The company reported sales of ₹998 crore, up 13% compared to a year ago which it claimed was driven by a robust portfolio and premiumisation to meet evolving consumer needs, and strong retail execution.

PGHHCL is a fast-moving consumer goods company that has brands like Whisper, Vicks, and Old Spice.

LV Vaidyanathan, Managing Director at PGHHCL said the company remains committed to its integrated growth strategy of a focused product portfolio of daily use categories. “We are confident that these strategies will help us navigate the mid-term and deliver balanced growth and value creation,” he said.

Procter & Gamble Hygiene and Health Care was incorporated in India as Richardson Hindustan in 1964. P&G had acquired the company in 1985.

Recently, another Procter & Gamble brand Gillette India reported a 10% year-on-year (YoY) growth in its fourth quarter operating revenue at ₹681 crore. The rise in sales was driven by superior innovations across the portfolio and strong brand fundamentals, the company said.

Net profit fell 3.5% YoY to ₹99.09 crore during the quarter. The firm attributed the fall in profits to one-time tax impacts in the base and current quarters. The company witnessed a 13.51% growth in its revenue from the grooming segment at ₹557.71 crore while it saw a 3.67% decline in revenue from its oral care segment at ₹123.03 crore. Gillette India owns brands like Gillette, Braun, and Oral B.

Shares of PGHHCL have lost over 8% since the beginning of the year. The stock has gained over 13% in the last one year.

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