P&G Hygiene and Health June quarter profit down 46% to Rs 81 crore

P&G earnings: Procter & Gamble Hygiene and Health Care Ltd (PGHH) on Wednesday reported 46.40 per cent decline in profit after tax at Rs 81.06 crore for June quarter 2024 on account of increased spending.

The company, which follows July-June financial year, had reported a profit after tax of Rs 151.24 crore in the corresponding quarter of the previous fiscal.

However, PGHH's revenue from operations was at 931.75 crore as against Rs 852.53 crore a year ago.

"PAT for the quarter was Rs 81 crore, with an increase in spending for demand generation to support innovation in healthcare and feminine care," said an earning statement from PGHH.

Total expense was at Rs 826.78 crore, up 26 per cent year-on-year.

The total income of the Proctor & Gamble entity, which has a portfolio of Vicks in healthcare and Whisper in feminine care, was up 8.86 per cent to Rs 939.06 crore.

For the full year, PGHH's profit after tax was flat at Rs 675.02 crore as against Rs 678.14 crore in the previous year.

"Reported PAT was flat vs year ago driven by the significant impact of one-time tax-related items both in the base period and current period," it said.

Revenue for the year was at Rs 4,205.70 crore, up 7.34 per cent.

This sales growth was "owing to innovation, premiumisation and driving category growth in the feminine hygiene category".

Shares of PGHH on Wednesday settled at Rs 16,980.80 apiece on BSE, down 0.22 per cent from the previous close.