Home / Markets / Stock Markets /  Board recommends 11.50 per share dividend, as profit jumps 22% in Q1

A mid-size company with a market valuation of 6,982.53 crore, Procter & Gamble Health Ltd. operates in the pharmaceutical industry. One of the largest VMS companies in India, P&G Health manufactures vitamins, minerals, and nutritional supplements for use in healthcare. Due to the 10% sales increase for the fiscal year, the Board of Directors of the Company proposed a final dividend of Rs. 11.50 per equity share at its meeting held on August 29, 2022.

The company said in a regulatory filing that “We are pleased to further inform you that the Board of Directors of the Company at its meeting held today, inter alia, have recommended a final dividend of Rs.11.50 per equity share, for the financial year ended June 30, 2022. The dividend shall be paid between November 28, 2022 to December 18, 2022, on approval of the Members at the 55th Annual General Meeting."

The company reported revenue from operations of 295.89 Cr in the quarter ended June 2022 compared to 285.40 Cr in the same quarter of the last year and for the year ended the company recorded a sales revenue of 1114.41 Cr compared to 1008.73 Cr in the fiscal year ending 30th June 2022, up by 10% compared to a year ago. Profit After Tax (PAT) for the year ended 30th June 2022 is Rs193 crores, up by 9% from a year ago. For the quarter ended June 2022 the company reported a PAT of 41.19 Cr compared to 33.89 Cr in the quarter ended June 2021, a growth of 22%. For the quarter ended June 2022, the company recorded a profit before tax (PBT) of 54.65 Cr compared to 43.53 Cr recorded in the quarter ended June 2021, a growth of 26%.

Mr. Milind Thatte, Managing Director, P&G Health India, said, “We have registered consistent growth in revenue in recent quarters in a challenging environment which saw the industry facing headwinds across many categories. This has been a result of extensive efforts across all fronts to improve awareness and accessibility of our superior, quality products, and better serve our customers, consumers, partners and communities. We continued our efforts to create awareness through integrated campaigns encouraging consumers to identify symptoms and seek timely treatment. Our team stepped up on scientific education efforts for healthcare practitioners through accredited symposiums, roundtables and congresses with leading medical and pharmacy associations. This year, we also launched the ‘P&G Health Academy’, a virtual platform that brings together health experts from across the globe to converge, share and learn. We strengthened our go-to-market strategy through new initiatives that aim to increase reach and distribution. We continued to invest in strengthening public health through our flagship CSR program ‘SEHAT’ (meaning health) with 9 bespoke initiatives, while making strong progress on gender diversity, equality and inclusion through our i-RISE program."

The company said in a regulatory filing that “The Board of Directors have recommended a final dividend of 11.50 per Equity Share, for the Financial Year ending June 30, 2022. Considering interim dividend of 41 per share, total dividend payout for the fiscal will be 52.50 per share, subject to the approval of final dividend by shareholders of the company at the ensuing 55th Annual General Meeting."

The shares of Procter & Gamble Health Ltd closed yesterday at 4,210.00 apiece, up by 0.95% from the previous close. On a YTD basis, the stock has fallen 19.83% so far in 2022.

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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