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The jump in profit after tax was due to one-time tax impacts and operationally was fueled by premiumization and productivity interventions, said the company.
Revenue from operations fell marginally to Rs 881.31 crore in the quarter ended March 2023 as compared with a year ago, behind Omicron-driven demand surge in the healthcare portfolio in the base period.
Total expenses decreased by 9.2% YoY to Rs 828.19 crore in Q3 March 2023, due to decline in cost of raw and packing materials consumed (down 55% YoY) and lower finance costs (down 47.65% YoY).
Profit before tax in Q3 March 2023 stood at Rs 145.56 crore, down by 3.7% from Rs 151.10 crore recorded in the same period last year.
"The period also saw an impact on sales of -8% due to one-time non-operating income in the base period. With this, the reported sales were down 9% vs year ago,” Procter & Gamble Hygiene said in a statement.
LV Vaidyanathan, managing director, Procter & Gamble Hygiene and Health Care, said, “Despite a challenging operating environment, we delivered a resilient performance in the quarter, recording a strong sequential growth in profit.
This has been possible behind our integrated growth strategies of a focused product portfolio, superiority, productivity, constructive disruption, and an agile and accountable organization structure. We believe that these continue to remain the right strategies for us to navigate the near-term challenges and drive balanced growth.”
Procter & Gamble Hygiene and Health Care is one of India's leading FMCG companies that has in its portfolio WHISPER – India's leading feminine hygiene brand, and VICKS – India's No. 1 health care brand and Old Spice.
The scrip shed 0.41% to currently trade at Rs 13,657.75 on the BSE.
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