P&G Hygiene and Health Care Q3 net down 5% to Rs 124 cr on cost inflation

FMCG major Procter & Gamble Hygiene and Health Care Ltd (PGHHCL) on Thursday reported a 5.42 per cent decline in profit after tax (PAT) to Rs 124.12 crore in the third quarter ended December 2018.

It had posted a PAT of Rs 131.24 crore in the corresponding period last financial year, PGHHCL said in a regulatory filing.

Total income during the quarter stood at Rs 829.73 crore as compared with Rs 711.25 crore in the year-ago quarter, a rise of 16.65 per cent.

PGHHCL said its profit was impacted due to cost inflation and strategic investments on brand building initiatives to accelerate growth.

Commenting on the quarterly performance, PGHHCL Managing Director Madhusudan Gopalan said: "We have delivered strong double-digit (sales) growth for the second consecutive quarter this year driven by robust volume growth, category development and execution excellence."

He said the company would continue to focus on raising the bar on the superiority of products, packaging, go-to-market and communication, besides improving productivity and strengthening organisation and culture.

The company also said its board of directors declared an interim dividend of Rs 40 on every equity share of Rs 10 and the record date for the dividend will be February 19.