Procter & Gamble Hygiene records 29% YoY fall in Q1 PAT

Procter & Gamble Hygiene & Health Care reported 29% drop in net profit to Rs 154 crore on a 1% fall in sales to Rs 1,045 crore in Q1 September 2022 over Q1 September 2021.

The company cited post-COVID normalization of demand as the reason for the decline in sales.

Total expenses rose by 10% YoY to Rs 846 crore in Q1 September 2022, due to higher purchase cost of traded goods (up 15x YoY) and higher advertising & sales promotion expenses (up 26% YoY).

Profit before tax in Q1 September 2022 stood at Rs 206 crore, down by 30% from Rs 294 crore recorded in the same period last year.

The steep contraction in profitability was due to top-line impact and significant effect of commodity cost inflation. Compared to the corresponding pre-covid quarter three years ago, company sales are up 23% and PAT is up 12%.

"The company continues to maintain market share leadership across both Feminine Hygiene and Healthcare categories, Procter & Gamble Hygiene said in a statement.

LV Vaidyanathan, managing director, Procter & Gamble Hygiene and Health Care, said, In a challenging macro-economic environment, we delivered resilient results in the quarter by focusing on our integrated growth strategies.

We believe they remain the right strategies to navigate through the near-term challenges and help us deliver in line with our aim to drive balanced growth.

Procter & Gamble Hygiene and Health Care is one of India's leading FMCG companies that has in its portfolio WHISPER - India's leading feminine hygiene brand, and VICKS - India's No. 1 health care brand and Old Spice.

The scrip shed 0.82% to currently trade at Rs 13990.20 on the BSE.

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