Procter & Gamble Health (P&G health) dropped 6.30% to Rs 5,875.65 after the company's standalone net profit slumped 66.1% to Rs 15.77 crore on 3.9% decline in net sales to Rs 219.15 crore in Q3 March 2021 over Q3 March 2020.
The revenue was impacted by stock challenges and higher last year base on account of exports sales phasing during the same quarter last year. The net profit was impacted by lower sales for the quarter and lower expense base last year supported by provision true ups and reversals.
Milind Thatte, the managing director (MD) of Procter & Gamble Health, said: "As the country and the entire healthcare ecosystem is faced with one of the most challenging circumstances in recent times, Procter & Gamble Health Limited stands committed to working with healthcare practitioners and distribution partners towards ensuring uninterrupted service and supplies of our medicines and nutraceutical products to patients and consumers across India. Amidst turbulent times, the company delivered a total sale of Rs 214 crore in the quarter ending 31 March 2021. While the quarter saw a decline of 4% vs last year, we will continue to ramp up to serve growing consumer demand backed by strong supply chain continuity plans."
P&G Health is one of India's largest VMS Companies manufacturing and marketing over-the-counter vitamins, minerals, and supplements products, including Neurobion, Livogen, SevenSeas, Evion, Polybion and Nasivion.
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