P&G June-quarter net profit drops 43% on higher promotional expenses
Procter & Gamble Hygiene and Health Care ‘s net profit for the quarter stood at Rs 44.55 crore, compared to Rs 78.04 crore a year ago
New Delhi: Procter & Gamble Hygiene and Health Care Ltd on Wednesday reported a 43% decline in its June-quarter net profit due to higher advertising and sales promotion expenses. Net profit for the quarter stood at Rs 44.55 crore, compared to Rs 78.04 crore a year ago. Net sales fell marginally by 1% to Rs 524.65 crore against Rs 529.94 crore last year same quarter.
Advertising and sales promotion expenses surged 102.8% to Rs 67.73 crore while other expenses increased 25.5% to Rs 162.63 crore.
Its rival, Hindustan Unilever Ltd reported a 12% sales volume growth for June quarter, while EBITDA margins expanded to 23.7%. Net profit was up 19% and revenues grew 11% for the quarter.
On Tuesday, shares of Procter & Gamble ended at Rs 10,707.20 on BSE, up 1.4% from its previous close while India’s benchmark Sensex Index rose 0.02% to 38285.75 points.
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