Procter & Gamble Health jumps after decent quarterly earnings

Procter & Gamble Health advanced 4.13% to Rs 4,278.95 after net profit jumped 14.1% to Rs 46.46 crore on 1.3% fall in net sales to Rs 228.11 crore in the quarter ended March 2020 over the quarter ended March 2019.

Standalone profit before tax rose 2% to Rs 64.76 crore in the quarter ended March 2020 as against Rs 63.49 crore in the quarter ended March 2019. Current tax expenses dropped 44.2% to Rs 15.39 crore in the quarter ended March 2020 as compared to Rs 27.60 crore in the quarter ended March 2019. The result was released post trading hours on Friday, 29 May 2020.

As a result of the nationwide lockdown imposed by the Government of India, the operations of Procter & Gamble Health were temporarily disrupted at its manufacturing, warehouse and distribution locations impacting sales in the second half of March 2020. Since then, the operations have been gradually resuming in line with the Government directives issued from time to time.

Procter & Gamble Health, formerly Merck, is engaged in manufacturing and marketing of pharmaceuticals, bulk drugs, fine chemicals and pigments. The company operates through two segments: pharmaceuticals and chemicals. Its geographical segments include domestic and exports.

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