Procter & Gamble Q4 net profit plummets 29 percent

Procter & Gamble (P&G), one of India’s leading FMCG companies reported a 28.64 per cent decline in net profit at Rs 78.04 crore for the fourth quarter ended June 30, 2017.


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The company, which follows a July-June financial year, had posted a net profit of Rs 109.37 crore during the same period of previous fiscal, P&G said in a statement.
 
The company said the volatile trade condition was the main reason for such a huge decline in the Q4 profits.
 
Total income during the quarter under review stood at Rs 540.77 crore as against Rs 584.47 crore in the year-ago period.
 
For the financial year however, the company witnessed a 3 percent rise in sales at Rs 2,419.16 crore as compared to Rs 2,349.15 crore in the previous fiscal.
 
The company said it reported higher sales during the year despite challenges of liquidity crunch in the second quarter and trade destocking ahead of GST in the fourth quarter.
 
For the entire fiscal, P&G witnessed a 2 percent jump in net profit of Rs 432.73 crore as compared to Rs 422.50 crore in the fiscal ended June 30, 2016.
 
Established in 1964, P&G India has a strong pan India presence especially in the beauty & grooming segment. The company has five plants and over nine contract manufacturing sites in the country.

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