August 28th 2023.
Procter & Gamble Hygiene and Health Care Ltd announced their financial results for the quarter and fiscal year ended June 30, 2023 on Monday. The Company reported a sales of Rs 852 crore, up 10 percent in the quarter compared to the same period last year. Profit After Tax (PAT) for the quarter was Rs 151 crore, a significant increase from Rs 43 crore the previous year.
For the fiscal year ended June 30, 2023, P&G reported sales of Rs 3917 crore, flat compared to the previous year, due to a pandemic-led surge in the healthcare portfolio. PAT for this period was Rs 678 crore, an 18 percent increase compared to the year before, including one-time tax impacts. Excluding these one-time tax impacts, the PAT was up 10 percent operationally. This was due to premiumization and productivity measures taken by the Company, despite the challenging cost environment.
Managing Director LV Vaidyanathan expressed his satisfaction with the results, saying “We delivered a strong top and bottom-line growth in the quarter, leading up to a resilient finish for the fiscal year despite a challenging operating environment. We remain committed to our strategy - a focus on daily use categories where performance drives brand choice, superiority , productivity, constructive disruption, and an agile and accountable organization structure and culture - all in pursuit of sustainable, balanced growth and value creation.”
The Board of Directors also recommended a payment of final dividend of Rs 105 per equity share for the Financial Year ended June 30, 2023.
In addition to the financial results, P&G Health also announced the “Na Na Anemia Bus Yatra”, a campaign to raise awareness about Iron Deficiency Anemia. The bus will travel across 20 cities in India to spread awareness about the condition and the importance of maintaining a balanced diet.
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