P&G Q4 net profit plummets 43% to Rs 45 crore
FMCG major Procter & Gamble (P&G) India unit net profit witnessed a steep decline of 43 percent to Rs 45 crore ($6.5 million) for the fourth quarter ended June 30, 2018. The company had posted a net profit of Rs 78 crore during the April-June quarter a year ago
P&G, which follows July-June financial year, saw its revenue for the quarter drop to Rs 531 crore from Rs 541 crore it had reported in the corresponding quarter of the last fiscal.
For the financial year 2017-18, P&G's net profit was down 13 percent at Rs 375 crore as against Rs 433 crore in 2016-17. Its sales revenue stood was slightly down to Rs 2,479 crore in 2017-18 from Rs 2,496 crore in the previous fiscal.
“The profit was down 13% versus a year ago largely behind lower non-operating income and increased marketing investments,” the company said in a statement.
“Both the Feminine Care and Health Care businesses continue to grow ahead of category behind brand fundamentals, strength of product portfolio and improved in-store execution,” it added.
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