FY17 a blip for Procter & Gamble Hygiene

Growth rates expected to pick up, but steep stock valuation a hurdle

Procter & Gamble Hygiene and Health Care’s (P&G) June quarter (Q4) results may have fallen short of the Street’s expectations, but the latter doesn’t seem to be worried, given that the stock closed with marginal gains on the National Stock Exchange (NSE) following its results on Wednesday. The Street attributed the miss to a one-off.

P&G, a 70.64 per cent subsidiary of US-based consumer giant Procter & Gamble Corporation, sells consumer products.

The company missed on its top line because of the goods and services tax-(GST) led de-stocking amid volatile trading conditions. Its profitability was impacted due to elevated costs,