Procter & Gamble Health rose 0.48% to Rs 7,360.35 after the company reported a 77.6% jump in net profit to Rs 67.88 crore on 1.5% rise in net sales to Rs 240.22 crore in Q2 December 2020 over Q2 December 2019.
The FMCG company said its profitability was primarily driven by lower travel and selling expenses due to Covid-19 pandemic.Profit before tax jumped 70.1% to Rs 86.43 crore in Q2 December 2020 over Q2 December 2019. Current tax expense spiked 37% to Rs 19.03 crore in Q2 December 2020 over Q2 December 2019.
Commenting on company's Q3 performance, Milind Thatte, MD of Procter & Gamble Health said, "The company continues to deliver consistent sales growth driven by a sustained demand for our quality and affordable vitamins, minerals, supplements and medicinal products. With the country gradually opening up and the markets showing a steady recovery in the health category, we will continue our focus on ensuring uninterrupted supplies while doubling down our efforts to increase reach through scientific communication, portfolio consumerization, and disease awareness and education."
Procter & Gamble (P&G) Health (formerly Merck) is engaged in manufacturing and marketing over-the-counter products, vitamins, minerals, and supplements.
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