P&G Hygiene and Health Care Q2 profit up 10.3% to Rs 229 cr

New Delhi: Procter & Gamble Hygiene and Health Care Ltd on Wednesday reported a growth of 10.32 per cent in profit after tax at Rs 228.90 crore in the second quarter ended December, 2023 largely led by productivity, and moderating cost inflation.

The company, which follows the July-June financial year, had reported a profit after tax of Rs 207.47 crore in the corresponding quarter of the previous fiscal.

Procter & Gamble Hygiene and Health Care Ltd (PGHH) revenue from operations was marginally down to Rs 1,133.43 crore during the quarter under review. It was at Rs 1,137.39 crore a year ago.

"The profit growth is led by product price-mix, productivity, and moderating cost inflation versus the base period," the earning statement from the company which owns popular brands such as Vicks in healthcare and Whisper in feminine care said.

PGHH's total expense was at Rs 840.50 crore in the December quarter, down 2.85 per cent compared to the same period a year ago.

"The quarter has remained challenging amidst a difficult operating environment.

"We remain committed to our integrated growth strategy of a focused product portfolio of daily use categories where performance drives brand choice, superiority — across product performance, packaging, brand communication, retail execution and consumer and customer value — productivity, constructive disruption, and an agile and accountable organization," PGHH Managing Director LV Vaidyanathan said.

PGHH board has also declared an interim dividend of Rs 160 per equity share of face value of Rs 10 each for the financial year 2023-24.

"The company is celebrating its 60th year since the commencement of operation. This interim dividend includes a one-time special dividend of Rs 60 per equity share to commemorate this special occasion," it said.

The board of the company has also approved the appointment of Ashima Goyal as independent director of the company, for a period of five years.

Shares of Procter & Gamble Hygiene and Health Care Ltd on Wednesday were trading at Rs 17,149.95 on BSE, down 0.09 per cent from the previous close.