P&G India makes strong start, Q1 profit up 11 percent to Rs 116 crore

By

Maverick Martins

Published
Nov 15, 2017

India’s leading FMCG Company Procter & Gamble Hygiene and Health Care Ltd (P&G) made a strong start for the financial year with 11 percent rise in profits to Rs 116 crore ($17.8 million) for the first quarter ended September 30.
 

The company, which follows a July-June financial year, had posted a net profit of Rs 104 crore (approx $16 million) during the same period last fiscal.
 
"Both the femine care and health care business delivered strong growth versus year ago behind brand fundamentals, strength of product portfolio and improved in-store execution," the company said in a statement.

The total sales income saw a marginal growth of 2 percent to Rs 661 crore (approx $101.1 million) as against Rs 645 crore (approx $98.7 million) it had reported a year ago while the expenses also fell 0.22 per cent to Rs 483 crore ($73.9 million) as against Rs 484 crore (approx $74 million).
 
Implementation of the Goods and Services tax (GST) in the last year coupled with volatile trade condition had severely affected the company’s Q4 results which had reflected in the company’s financial year results.
 
For the financial year ended June 30, 2017, P&G witnessed a meagre 3 percent rise in sales and 2 percent in profit at Rs 2419 crore (approx $370 million) and Rs 433 crore (approx $66.3 million) respectively.
 
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.