Procter & Gamble Hygiene Q1 net profit drops 29 percent to Rs 154 crore

By

Maverick Martins

Published
Nov 3, 2022

Procter & Gamble Hygiene & Health Care witnessed a 29 percent drop in net profit to Rs 154 crore ($18.6 million) for the first quarter ended September 2022, as against Rs 218 crore reported in the year-ago period.

The company’s revenue for the quarter was down by 1 percent to Rs 1,045 crore, as against Rs 1,058 crore reported in the corresponding period of the previous fiscal year. It cited post-Covid normalization of demand as the reason for the decline in sales.

The company’s total expenses for the quarter rose by 10 percent to Rs 846 crore in Q1 September 2022.

Commenting on the Q1 results, LV Vaidyanathan, managing director of Procter & Gamble Hygiene and Health Care in a statement said, “In a challenging macro-economic environment, we delivered resilient results in the quarter by focusing on our integrated growth strategies. We believe they remain the right strategies to navigate through the near-term challenges and help us deliver in line with our aim to drive balanced growth.”

Procter & Gamble Hygiene and Health Care Ltd is one of India’s fastest growing FMCG companies and retails a wide range of personal care brands in India including Olay, Wella, and Pantene, among others.