P&G Hygiene and Health Care net up 2%

FMCG player Procter & Gamble Hygiene and Health Care (PGHH) recorded a net profit (consolidated) of Rs 47 crore for the third quarter ending December 31, 2008 -- a 2 per cent rise over the Rs 46 crore for the corresponding quarter in the previous year. The stock price was down by 3.15 per cent to close at Rs 731.95 on the BSE.

Profit Before Tax (PBT) at Rs 60.5 crores though is lower as against Rs 65.3 crores in the corresponding period last year.  This was on account of both incurring one time costs as well as other costs that had timing impact across quarters.

The revenue of the group which has products like Vicks and Whisper grew 17 per cent to touch Rs 226 crore as compared to Rs 194 crore for the same quarter a year ago. "Whisper Choice, Whisper Ultra, Vicks Action 500, Vicks Inhaler, and Vicks Cough Drops are leading our growth momentum which we hope to maintain through the second half of this fiscal. Profits for the quarter though are lower primarily due to contracted input cost inflation, weakening rupee and impact of one time extra ordinary charges; we expect this to be corrected in the second half of the year subject to macro-economic environment not deteriorating substantially," said Bharat Patel, chairman, PGHH.