P&G Sept qtr net down 39% to Rs 31.36 cr

FMCG major Procter & Gamble Hygiene and Healthcare (PGHHCL) today posted a 39 per cent decline in its net profit to Rs 31.36 crore for the quarter ended September 30, 2010, over the same period last fiscal.

"The profit decline was mainly due to an increase in excise duty as well as price corrections that PGHHCL undertook to expand the feminine hygiene category," the company said in a statement.

The company, which sells feminine hygiene brand 'Whisper' and health care brand 'Vicks', recorded an increase of one per cent in its sales to Rs 227.81 crore during the period. It had sales of Rs 225.46 crore in the corresponding quarter last fiscal.
    
During the quarter, the firm said its feminine hygiene category posted a nine per cent sales growth while health care witnessed a growth of 12 per cent.
    
"PGHHCL is committed to effectively leveraging its strong balance sheet to achieve a long term growth. We continue to invest in our core businesses...," PGHHCL Managing Director Shantanu Khosla said.
    
Going forward, the company said it will continue to make significant investments towads building capabilities by expanding coverage and focusing on increasing volumes leading to an increase in other expenses.