P&G profit falls 16% to Rs 83.24 cr in Jan-Mar

Procter & Gamble Hygiene and Health Care (P&G) today reported a 16.45 per cent decline in net profit at Rs 83.24 crore for the quarter ended on March 31, 2018.

The company, which follows July-June financial year, said profits declined due to "increased investments on product innovations and advertising".

The net profit of the FMCG company was Rs 99.63 crore in the corresponding quarter of the last fiscal.

Total income of the company stood at Rs 575.50 crore during the quarter ended March 2018. It was Rs 624.28 crore in the same quarter of the previous fiscal, P&G said in a BSE filing.

"Consequent to the introduction of the Goods and Service Tax (GST) from July 1, 2017, central excise, value added tax (VAT) etc have been subsumed into GST....Accordingly, the figures for period up to June 30, 2017 are strictly not relatable to those thereafter," it said.

P&G in a statement said "both the feminine care and health care businesses will continue to focus on growth behind brand fundamentals, strength of product portfolio and improved in-store execution".

Shares of P&G settled 5.46 per cent lower at Rs 9,199.85 on BSE.