P&G Hygiene jumps after strong Q3 earnings

Procter & Gamble Hygiene and Health Care jumped 5% to Rs 3,610 at 9:29 IST on BSE after net profit rose 55.04% to Rs 80.76 crore on 20.09% rise in net sales to Rs 500.35 crore in Q3 March 2014 over Q3 March 2013.

The company announced the result after market hours on Wednesday, 8 May 2014.

Meanwhile, the BSE Sensex was up 58.39 points, or 0.26%, to 22,382.29.

On BSE, so far 1,331 shares were traded in the counter, compared with an average volume of 600 shares in the past one quarter.

The stock hit a high of Rs 3,680 in initial trades, which is also a record high for the counter. The stock hit a low of Rs 3,500 so far during the day. The stock hit a 52-week low of Rs 2,451.60 on 14 May 2013.

The stock had outperformed the market over the past one month till 7 May 2014, rising 7.43% compared with the Sensex's 0.09% fall. The scrip had also outperformed the market in past one quarter, rising 7.45% as against Sensex's 9.56% rise.

The large-cap company has an equity capital of Rs 32.46 crore. Face value per share is Rs 10 .

Procter & Gamble Hygiene and Health Care (P&G Hygiene) said growth in net sales was driven by strong consumer-centric brand initiatives. Profit was driven by strong focus on costs.

The company said that both feminine care and health care businesses continued to deliver robust double-digit growth in a competitive market environment behind superior consumer propositions, strong initiatives and the strength of their portfolio. The launch of Oil Spice is delivering in-line with expectations, adding incremental sales and share growth. Strong margin growth was the result of focus on productivity across the major cost pools, the company said.

Procter & Gamble Hygiene and Health Care manufactures personal & beauty care and healthcare products.

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