New Delhi: Consumer goods firm Procter & Gamble Hygiene and Health Care Ltd (PGHHCL) on Wednesday reported a 8% jump in net profit to ₹90 crore; revenues at the Mumbai-based firm were up 23% for the quarter ended March 31, 2019. This makes it the company’s third-consecutive quarter of volume growth as it has focusses on local product innovations and better productivity.
“We have delivered strong double-digit growth for the third consecutive quarter this year driven by robust volume growth, category development and execution excellence," Madhusudan Gopalan, managing director and chief executive officer, P&G India sub-continent, said in a media statement.
“Our focus on raising the bar on superiority, innovation, improving productivity, and strengthening our organization and culture is delivering strong results in a competitive market environment," he added.
To be sure, the company that operates in the feminine hygiene and healthcare categories with brands such as Whisper, Vicks, and Old Spice. Feminine hygiene is the company’s largest business. Both the Feminine Care and Health Care businesses recorded double-digit growth during the quarter, the company said.
The company follows a July-June financial year.
However during the quarter the company saw a 85% jump in raw materials and packaging materials consumed at ₹213 crore.
To be sure, P&G runs three business entities in India. Gillette India Ltd and Procter and Gamble Hygiene and Health Care Ltd are listed on the bourses. Procter and Gamble Home Products Pvt Ltd is a 100% subsidiary of the parent company.
The results come after the local arm of the Cincinnati-headquartered P&G company initiated a restructuring exercise in line with the parent company’s ongoing efforts to turnaround its businesses across markets. The company had last year launched more India-specific products, improved its speed to market, and increased productivity. These efforts have helped the firm register a 15% growth in sales in the first half of 2018-19 (July-December 2018), Gopalan said in an interview with Mint earlier.