Procter & Gamble Sep results: Net profit rises 1% YoY to ₹221 crore; revenue flat

Procter & Gamble Hygiene and Health Care's September quarter results showed flat revenue growth and just a 1% increase in PAT. At the current trading price of 16,316, the stock is now 14.15% below its peak. Year-to-date, the stock has declined by 5%.

A Ksheerasagar
Published30 Oct 2024, 02:22 PM IST
Procter & Gamble Sep results: Net profit rises 1% YoY to  <span class='webrupee'>₹</span>221 crore; revenue flat.
Procter & Gamble Sep results: Net profit rises 1% YoY to ₹221 crore; revenue flat. (AP)

Procter & Gamble Hygiene and Health Care, one of India’s leading FMCG companies, released its financial results for the quarter ended September 2024, on Wednesday, October 30, reporting flat revenue and net profit growth on a yearly basis. However, both the topline and bottomline showed improvement sequentially.

The company posted a 0.3% drop in revenue at 1,135 crore, compared to 1,138 crore in the same period last year. In the previous June quarter, revenue stood at 931 crore.

Profit after tax (PAT) for the quarter reached 212 crore, an increase of 1% year-on-year. In the first quarter of the current fiscal year, the company posted a net profit of 81 crore, according to the company's earnings report.

Also Read | Adani Enterprises share price jumps 5% after Q2 results

The company noted that volume growth in the industry remains muted. However, it highlighted growth in the feminine care category and reported progress in improving structural profitability during the quarter.

Procter & Gamble Hygiene and Health Care’s portfolio includes WHISPER—India’s leading feminine hygiene brand—alongside VICKS, India’s No. 1 health care brand, and Old Spice.

Commenting on the September quarter results performance, Kumar Venkata Subramanian, Managing Director, Procter & Gamble Hygiene and Health Care Ltd. shared, “We have continued to focus on delighting consumers with superior propositions, and driving the integrated growth strategy– a focused product portfolio of daily use categories where performance drives brand choice, superiority (of product performance, packaging, brand communication, retail execution and consumer and customer value), productivity, constructive disruption, and an agile and accountable organization – which we remain committed to.”

Also Read | Tiger Logistics shares hit 10% upper circuit after Q2 results 2024

Stock price trend

Since hitting an all-time high of 19,086 per share in November 2023, the company's stock has been on a downward trend, with only minor pullbacks seen along the way. At the current trading price of 16,316, the stock is 14.15% below its peak. Year-to-date, the stock has declined by 5%.

Also Read | Marico share price rallies over 9% as Q2 numbers beat estimates

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

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First Published:30 Oct 2024, 02:22 PM IST
Business NewsMarketsStock MarketsProcter & Gamble Sep results: Net profit rises 1% YoY to ₹221 crore; revenue flat

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