Procter & Gamble, India—the local subsidiary of the US-based consumer goods company, clocked 15 percent growth in sales during the past six months helped by changes in strategy, said media reports.
According to The Times of India, Madhusudan Gopalan, who was appointed MD & CEO of Procter & Gamble (P&G) in India in April last year, gave a profitable first half with the group’s top line growing more than 15 percent from July to December 2018. P&G follows a July to June financial year.
After a phase of portfolio transformation, which impacted revenue growth in the short-term, P&G India is understood to have come back on a value-accretive top line and bottom line growth path, the report said.
The company had last year launched more India-specific products, improved its speed to market, and increased productivity, said a report in Mint.
“The key drivers have been the renewed strategy that we have put in place globally and now in India as well. We have worked on driving superiority on product, packaging, communication, our go-to-market and value.... We have made several interventions in India," Gopalan was quoted as saying in the report.
P&G had reported a 10.64 percent increase in net profit at Rs 115.56 crore for the first quarter ended 30 September, 2018, according to a PTI report.
It had posted a net profit of Rs 104.44 crore in the July-September quarter a year ago, P&G said in a BSE filing.
Its total income during the quarter under review was up 2.49 percent to Rs 661.13 crore as against Rs 645.01 crore a year ago.
The company's total expenses in Q1/FY 2017-18 were down marginally 0.22 percent to Rs 483.39 crore as against Rs 484.48 crore.
--With PTI inputs
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Updated Date: Mar 27, 2019 12:04:31 IST