Procter & Gamble Health profit dips 27% to Rs 30 crore in April-June quarter

New Delhi: Procter & Gamble Health on Thursday said its profit after tax declined by 27 per cent to Rs 30 crore in the quarter ended June 2023, hit by a higher material cost and one-time employee cost.

The company, which follows the July-June financial year, had reported a profit after tax (PAT) of Rs 41 crore in the same quarter last year.

Total income increased to Rs 307 crore in the April-June quarter from Rs 299 crore in the year-ago period, Procter & Gamble Health said in a statement.

For the year ended June 30, 2023, the company reported a PAT of Rs 229 crore, up 19 per cent from Rs 192 crore in the previous fiscal.

Total income rose to Rs 1,248 crore as compared with Rs 1,128 crore in the previous year.

"We continued our efforts towards brand and category development and thus delivered a strong performance in the fiscal, marked by consistent growth across all our brands," Procter & Gamble Health MD Milind Thatte stated.

The quarter, however, witnessed a category slowdown across the company's portfolio, he added.

The company said its board has recommended a final dividend of Rs 50 per share for the financial year ending June 30, 2023.

Shares of the company were trading 4.22 per cent at Rs 5,108.70 apiece on the BSE.