 "P&G gains after 50% jump in net profit in September quarter")
Procter and Gamble Hygiene and HealthCare Ltd (P&G) was trading higher by 3% at Rs 6,825 on the BSE after the company reported a 50% year on year (YoY) jump in net profit at Rs 103.72 crore for the quarter ended September 30, 2016 (Q1), helped by higher volume growth.
The fast moving consumer goods (FMCG) major had posted a net profit of Rs 69.56 crore in the year-ago period.
Its total income from operations during the quarter under review grew 12.5% at Rs 623 crore on YoY basis.
“Both the Feminine Care and Health Care businesses continued to deliver strong sales growth in a competitive market environment behind superior value propositions, strength of product portfolio and improved in-store execution,” P&G said in a statement.
The company further said it “continues to focus on productivity and cost efficiency’’.
The stock hit an intra-day high of Rs 6,899 on the BSE. A combined 2,865 shares change hands on the counter on the BSE and NSE so far. At 10:56 am; the S&P BSE Sensex was down 0.08% at 26,210 points.
The fast moving consumer goods (FMCG) major had posted a net profit of Rs 69.56 crore in the year-ago period.
Its total income from operations during the quarter under review grew 12.5% at Rs 623 crore on YoY basis.
“Both the Feminine Care and Health Care businesses continued to deliver strong sales growth in a competitive market environment behind superior value propositions, strength of product portfolio and improved in-store execution,” P&G said in a statement.
The company further said it “continues to focus on productivity and cost efficiency’’.
The stock hit an intra-day high of Rs 6,899 on the BSE. A combined 2,865 shares change hands on the counter on the BSE and NSE so far. At 10:56 am; the S&P BSE Sensex was down 0.08% at 26,210 points.
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