Procter & Gamble India clocks 15% sales growth during July-December 2018; revamped strategy yields results

Procter & Gamble had reported a 10.64 percent increase in net profit at Rs 115.56 crore for the first quarter ended 30 September, 2018.

FP Staff March 27, 2019 12:01:56 IST
Procter & Gamble India clocks 15% sales growth during July-December 2018; revamped strategy yields results
  • The company had last year launched more India-specific products, improved its speed to market, and increased productivity

  • 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

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.

Procter  Gamble India clocks 15 sales growth during JulyDecember 2018 revamped strategy yields results

Representational image. Reuters

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

 

 

Updated Date:

also read

Capture the Dream is a fine blend of information, entertainment & inspiration packed into the story of CP Krishnan Nair
Arts & Culture

Capture the Dream is a fine blend of information, entertainment & inspiration packed into the story of CP Krishnan Nair

Bachi Karkaria's Capture the Dream: The Many Lives of Captain C.P. Krishnan Nair will boost the confidence of people with big and bold dreams, regardless of their age.

P Chidambaram targets Centre over state of economy
Politics

P Chidambaram targets Centre over state of economy

He also questioned the government for 'backsliding' on the fiscal deficit target for the current year

Azamgarh by-polls: You have got the opportunity to turn this 'Aatankgarh' into 'Aryamgarh', says Yogi to voters
Politics

Azamgarh by-polls: You have got the opportunity to turn this 'Aatankgarh' into 'Aryamgarh', says Yogi to voters

Uttar Pradesh's chief minister attended a public meeting in Akbelpur and Baghila villages for the by-elections of Azamgarh parliamentary seat on Sunday