Personal Products company Procter & Gamble Hygiene & Healthcare announced Q3FY23 (Year ending Jun'23) results:
- The company delivered sales of Rs 883 crore, down 1% operationally vs a year ago behind the Omicron-driven demand surge in the healthcare portfolio in the base period
- The company continued to make sequential progress in profit growth with Profit After Tax (PAT) at Rs 165 crore, up 17% operationally vs a year ago fueled by premiumization and productivity interventions
- 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 a year ago
- Reported profit after tax was up 60% vs a year ago due to one-time tax impacts
LV Vaidyanathan, Managing Director, Procter & Gamble Hygiene and Health Care, shared, “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.”