Procter & Gamble Health witnessed a 30 percent decline in net profit to Rs 30 crore ($3.8 million) for the fourth quarter ended June 30 due to higher material cost and one-time employee cost.
The company’s revenue from operations for the quarter witnessed a year-on-year growth of 2 percent to Rs 301 crore.
P&G’s sales for the full financial year 2023 stood at Rs 1,206 crore while its net profit for the year was Rs 229 crore.
Commenting on the results, Milind Thatte, managing director at Procter & Gamble Health Limited in a statement said, “We continued our efforts towards brand and category development and thus delivered a strong performance in the fiscal, marked by consistent growth across all our brands. The quarter, however, witnessed a category slowdown across our portfolio.”
“Despite these challenges, we continued our commitment to our strategy of five integrated choices: a portfolio of daily-use products where performance drives brand choice; superiority across product, package, brand communication, retail execution, and value; productivity; constructive disruption of the entire value chain; and a highly efficient and effective organization structure,” he added.
Procter & Gamble Health is one of India’s fastest growing FMCG companies with a strong presence in the health and personal care sector.
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