Procter & Gamble Hygiene and Health Care clocks net profit of Rs 254 crore in July-September quarter
Nov 10, 2020
Mumbai (Maharashtra) [India], November 10 : Procter & Gamble Hygiene and Health Care clocked a profit after tax (PAT) of Rs 254 crore in the July-September quarter of 2020, a company statement said here on Tuesday.
The PAT is up by 86 per cent from the corresponding quarter in the last year.
It, however, added that the sharp increase in profit percentage from the corresponding quarter in last year was due to "one-time hurt in the corresponding quarter of the previous year, and a one-time help in the current quarter. In management's estimate, the profit excluding the one-time items, for the quarter was up 25 per cent."
As per the statement, while the feminine care business delivered double-digit sales growth in the quarter, the healthcare business grew in high single digits during it.
It also said for the quarter ended September 30, 2020, the company delivered sales of Rs 1,009 crores, which is up 18 per cent as compared to the figures achieved in the same quarter a year ago.
Expressing satisfaction with the results, Madhusudan Gopalan, Managing Director, Procter & Gamble Hygiene and Health Care Ltd added that the production and services are now back to pre-COVID levels and the focus in the near future will be on maximising its reach among the public.
"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," Gopalan said.
"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," he added.
