Procter & Gamble Hygiene & Health Care reported 85.5% jump in net profit to Rs 253.86 crore in the first quarter compared with Rs 136.84 crore in the same period last year.
Revenue from operations increased by 18.5% year-on-year (YoY) to Rs 1,009.45 crore during the quarter. The feminine care business delivered double-digit sales growth in the quarter while sales for the healthcare business grew in high single digits.
Total expense in Q1 September 2020 rose marginally, by 0.2% YoY, to Rs 683.31 crore as the gains from decline in advertising & sales promotion expenses (down 13.7% YoY) and other expenses (down 7.4% YoY) were offset by increases in the employee benefits expenses (up 46.1% YoY).
Profit before tax stood at Rs 335.70 crore in Q1 September 2020, up by 85.1% from Rs 181.36 crore in Q1 September 2019. Tax expense increased by 83.7% YoY to Rs 81.84 crore during the period under review.
Madhusudan Gopalan, managing director, Procter & Gamble Hygiene and Health Care, said, "We delivered strong top and bottom-line results in a challenging market environment. With the easing of the lockdown, we are witnessing gradual market recovery in the health and hygiene categories. Our production and service are now back to pre-COVID levels. In the near term, we will continue to prioritize the health and safety of our employees, maximize the availability of our products, which play an essential role in meeting the daily health and hygiene needs of consumers across the country, and support our communities. He further added, In the long term, we will continue to stay focused on our strategy of driving superiority, improving productivity, and strengthening our organization and culture to deliver balanced growth."
Procter & Gamble Hygiene and Health Care (PGHH) is an FMCG company that manufactures personal & beauty care and healthcare products.
More From This Section
The scrip surged 10.91% to Rs 11,344.20 on Tuesday. It traded in the range of 9,990.05 and 11,694.25 during the day.
Powered by Capital Market - Live News