Consumer goods firm Procter & Gamble Hygiene and Health Care (PGHHCL) on Wednesday reported 12 per cent year-on-year (YoY) growth in profit after tax (PAT) at Rs 419.13 crore for the financial year ended June 30, 2019.
"The fast moving consumer goods (FMCG) company had posted net profit of Rs 37 4.59 crore in the previous fiscal," Procter & Gamble Hygiene and Health Care said in a filing to the Bombay Stock Exchange.
The company, that operates in the feminine hygiene and healthcare categories with brands such as Whisper, Vicks and Old Spice, saw sales rise by 20 per cent to Rs 2,946.50 crore in FY20 as compared to Rs 2,455.29 crore in FY19, aided by strong brand fundamentals and strength of the product portfolio, P&G said in the exchange filing.
For the full year, total expenses increased to Rs 2,392.51 crore in the year ended June 2019 as against Rs 1,897.59 crore during the previous year ended June 2018.
During the April-June quarter, the net profit of PGHHCL jumped 36.45 per cent to Rs 60.79 crore as compared to Rs 44.55 crore during the same quarter last year.
The company's sales climbed 21.47 per cent to Rs 637.29 crore during the fourth quarter ended June 2019 as against Rs 524.65 crore during the previous quarter ended June 2018.
Commenting on financial results, Madhusudan Gopalan, MD, Procter & Gamble Hygiene and Health Care, said, "In a challenging market environment, we delivered a strong double-digit growth for the year and the fourth quarter...We will continue to focus on delivering balanced and sustained growth in a challenging and competitive macroeconomic environment."
Both the feminine care and health care businesses recorded double-digit growth during the year behind strong brand fundamentals, strength of the portfolio and improved in-store execution, the company said in the filing.
The company also informed that its board has recommended a final dividend of Rs 48 per equity share for the financial year ended June 30, 2019, subject to the approval of shareholders of the company at the ensuing 55th Annual General Meeting.
In a separate development, the board also approved re-appointment of Rajendra Ambalal Shah, Bansidhar Sunderlal Mehta and Anil Kumar Gupta as Independent Director, subjected to requisite approval.
Following Q1 earnings, shares of Procter & Gamble Hygiene and Health Care closed trade at Rs 10,301.75 apiece, up 0.34 per cent, on the BSE on Wednesday.
Edited by Chitranjan Kumar