P&G net up 55% at Rs 80 cr in Jan-Mar

Procter & Gamble Hygiene and Health Care today reported 55.03 per cent increase in net profit at Rs 80.76 crore in the quarter ended March 31, 2014, driven by focus on cost efficiency.

The company, which follows July-June financial year, had reported a net profit of Rs 52.09 crore in the corresponding period of the last fiscal.

Procter & Gamble's net sales in the quarter under review stood at Rs 500.35 crore, an increase of 20.09 per cent compared to Rs 416.63 crore in the year-ago period, the company said in a BSE filing.

"The company continued to sustain growth momentum ... driven by strong consumer centric brand initiatives. Strong margin growth was the result of focus on productivity across the major cost pools," Procter & Gamble said in a statement.

Overall expenses during the quarter were at Rs 400.72 crore, up 11.48 per cent compared with Rs 359.43 crore in the corresponding period last year.

Shares of Procter & Gamble's settled at Rs 3,446, up 2.25 per cent from previous close on the BSE.