Procter & Gamble Health soars after strong December quarter performance

Procter & Gamble Health zoomed 12% to Rs 4588.70 after the company reported a net profit of Rs 76.8 crore in the quarter ended 31 December 2022, which is higher by 71% as compared with a PAT of Rs 44.9 crore in the same period last year.

The improvement in profitability was supported by improved margin through portfolio premiumisation, healthy mix and optimization of expenses.

Sales rose by 11% to Rs 304.7 crore in the quarter ended 31 December 2022 from Rs 273.3 crores recorded in the corresponding quarter last fiscal.

Sales for the six-month period ending December 31, 2022, are Rs 596.6 crore as against Rs 541 crore a year ago, up by 10%. Profit after tax for same period is Rs 140.5 crore as compared with Rs 100.2 crore a year ago up by 40%.

The company's board has recommended an interim dividend for the financial year 2022-23 of Rs 45 per equity share. The dividend shall be paid on or before 05 March 2023. At Friday's closing price of Rs 4096.95, this translates to a dividend yield of 1.10%.

Milind Thatte, managing director, P&G Health India, said, We delivered sales of ₹ 596.6 crores for half year, up by 10% over year ago, despite macroeconomic challenges, including rising inflation and high input costs. We have witnessed consistent growth over the second quarter and an overall promising first half of the year.

Procter & Gamble Health is one of India's largest VMS companies manufacturingand marketing vitamins, minerals, and supplements products, including Neurobion, Livogen, SevenSeas, Evion, Polybion and Nasivion.

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