Procter & Gamble Hygiene & Health Care slipped 1.65% to Rs 14,357.05 after the company's net profit fell 13.12% to Rs 42.55 crore on 1.3% decline in net sales to Rs 776.38 crore in the quarter ended June 2022 over the quarter ended June 2021.
The company said that the fall in profit after tax (PAT) was largely due to commodity cost inflation. For the quarter, both feminine care and healthcare businesses continue to grow and maintain category leadership.Profit before tax (PBT) declined 14.2% year on year to Rs 57.70 crore while cost of materials consumed slumped 16.7% year on year to Rs 210.71 crore in the quarter ended 30 June 2022.
The company's standalone net profit declined 11.67% to Rs 575.75 crore despite of a 9.14% rise in net sales to Rs 3,900.92 crore in the year ended 30 June 2022 over the year ended 30 June 2021, largely behind commodities inflation which was significantly countered by cost productivity and pricing in the current year. Compared to the fiscal two years ago, the company's sales are up 30% and net profit is up 33%.
The company added that despite unprecedented headwinds from macroeconomic challenges and softening consumption trends, the company continued to grow and delivered a resilient performance in the fiscal, behind the proven superiority strategy and strong brand fundamentals.
LV Vaidyanathan, managing director of Procter & Gamble Hygiene and Health Care said: The operating environment continues to be marked by unprecedented headwinds and commodity fluctuations. Despite these challenges, we remain resilient, agile, and committed to serve Indian consumers, delivering sequential sales growth this year. The execution of our integrated strategies of a strong portfolio, superiority, productivity, constructive disruption, and an agile and accountable organization structure, has empowered us to deliver these consistent results. Our strategy is fueled by balancing innovation and industry-leading practices, while driving productivity in everything we do.
He further added, While the unprecedented market challenges and uncertainties remain in the near-term, we will continue to stay focused on our strategy of driving superiority and productivity and enabled by the strength of our organization and culture, to deliver balanced growth and value creation.
Procter & Gamble Hygiene and Health Care is one of India's fastest growing FMCG companies that has in its portfolio Whisper - India's leading Feminine Hygiene brand, and Vicks - India's No. 1 Health Care brand and Old Spice.
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