Procter & Gamble Reports Decline in Quarterly Profit Despite Revenue Growth

Procter & Gamble Hygiene and Health Care Ltd (PGHH) reported a 46.40% decline in profit after tax for the June quarter of 2024, citing increased spending as the primary factor. Although the company's revenue rose to Rs 931.75 crore, total expenses also surged. For the full year, profit after tax remained flat.

Procter & Gamble Hygiene and Health Care Ltd (PGHH) on Wednesday reported a 46.40 per cent decline in profit after tax, amounting to Rs 81.06 crore for the June quarter of 2024. The company attributed this decline to heightened spending.

The firm operates on a July-June financial year cycle. Last year, for the same period, PGHH had reported a profit after tax of Rs 151.24 crore. Despite this decline in profit, the company's revenue from operations grew, reaching Rs 931.75 crore compared to Rs 852.53 crore a year earlier.

According to the company's earning statement, 'PAT for the quarter was Rs 81 crore, reflecting increased spending for demand generation to support innovation in healthcare and feminine care.' Total expenses surged by 26 per cent year-on-year to Rs 826.78 crore, while total income rose by 8.86 per cent to Rs 939.06 crore. For the full year, PGHH's profit after tax remained flat at Rs 675.02 crore. Shares of PGHH closed at Rs 16,980.80 apiece on the BSE, down 0.22 per cent from the prior close.

(With inputs from agencies.)