Procter & Gamble Hygiene & Health Care rose 0.27% to Rs 10190.15 after net profit rose 1.1% to Rs 91.10 crore on 6.2% decline in net sales to Rs 656.05 crore in Q3 March 2020 over Q3 March 2019.
The company was forecasting high single digit sales growth for the quarter before the lockdown. But following the nationwide lockdown to contain the spread of COVID-19, the business operations were severely disrupted across the country.
The other income surged 72.24% to Rs 14.52 crore in Q3 March 2020 over Q3 March 2019. Total expenses declined 4.1% to Rs 545.70 crore during the period under review. Profit before tax stood at Rs 124.87 crore in Q3 March 2020, down by 10.2% from Rs 138.98 crore in Q3 March 2019. Total tax expenses fell 30.9% to Rs 33.77 crore in Q3 March 2020 from Rs 48.87 crore in Q3 March 2019.
Madhusudan Gopalan, managing director, Procter & Gamble Hygiene and Health Care said, In the near-term, we will focus on scaling up our operations to maximize the availability of our products to meet consumer needs, while following health and safety guidelines by the government authorities. With the strength of our product portfolio, we are well positioned to serve the needs of our consumers by offering superior propositions and value across different price segments."
Procter & Gamble Hygiene and Health Care is an FMCG company.
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