Procter & Gamble Q1 net profit down 14 percent to Rs 218 crore
Procter & Gamble Hygiene and Health Care Ltd (PGHHCL) reported a14 percent decline in net profit at Rs 218 crore ($29.2 million) for the first quarter ended September 2021, as against a net profit of Rs 254 in the year-ago period.
The company, which follows July-June fiscal, reported a revenue of Rs 1,058 crore for the quarter, as against Rs 1,009 crore in the corresponding period a year ago.
The total expenses during the quarter rose to Rs 770 crore from Rs 683 crore in the year-ago period.
Commenting on the Q1 results, Madhusudan Gopalan, managing director of PGHHCL, in a statement said: “Despite a challenging market environment and a higher base period, we delivered strong growth in the first quarter driven by the strength of our trusted product portfolio and strong retail execution.”
“As the industry faces commodity inflation, the company has doubled down its focus on driving productivity and innovation to drive balanced top and bottom-line growth. We continue to remain focused on our strategy of driving superiority, improving productivity, leading constructive disruption, and strengthening our organisation and culture,” he added.
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.
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