P&G touches new high on strong Q3 performance

Q3 net profit up 55% to Rs 81 crore against Rs 52 crore in the corresponding quarter of the previous year.

Procter & Gamble Hygiene and Health Care (P&G) has rallied 5% to Rs 3,616 after reporting a strong 55% year-on-year (yoy) jump in net profit at Rs 80.76 crore for the quarter ended March 31, 2014 (Q3), on the back of higher sales. The personal care products maker had reported a profit of Rs 52.09 crore in the same quarter a year ago.

The company’s total net sales grew 20% yoy at Rs 500 crore, driven by strong consumer-centric brand initiatives. Strong margin growth was the result of a focus on productivity across the major cost pools, P&G said in a statement.

EBITDA (earnings before interest, taxes, depreciation and amortization) margin improved substantially to 21.76% in the March 2014 quarter from 15.71% in the year-ago quarter.

The stock opened at Rs 3,595 and touched a record high of Rs 3,684 on the NSE. A combined around 4,700 shares changed hands on the counter so far on the NSE and BSE.