Procter & Gamble's profit up 1% to Rs 91 cr in March quarter, sales down 6%; firm says lockdown impacts business operations

Procter & Gamble Hygiene and Health Care Ltd on Friday reported a marginal rise of 1.09 percent in net profit at Rs 91.10 crore for the March quarter 2020 as the lockdown impacted its business operations

Press Trust of India May 08, 2020 16:10:52 IST
Procter & Gamble's profit up 1% to Rs 91 cr in March quarter, sales down 6%; firm says lockdown impacts business operations

New Delhi: Procter & Gamble Hygiene and Health Care Ltd on Friday reported a marginal rise of 1.09 percent in net profit at Rs 91.10 crore for the March quarter 2020 as the lockdown impacted its business operations.

The FMCG firm, which follows July-June financial year, reported a profit of Rs 90.11 crore in the year-ago period.

Net sales were down 6.19 percent to Rs 656.05 crore in the latest quarter as against Rs 699.34 crore in the year-ago same period, P&G said in a BSE filing.

“The company was forecasting high single-digit sales growth for the quarter before the lockdown. But following the nationwide lockdown to contain the spread of COVID-19 , the business operations were severely disrupted across the country," P&G said in a post earning statement.

Total expenses during the quarter stood at Rs 545.70 crore as against Rs 568.79 crore earlier, down 4.05 percent.

Shares of the company were trading at Rs 10,135 apiece on the BSE, down 0.28 percent from the previous close.

Updated Date:

also read

Telugu actor P Navdeep appears before ED for money laundering probe
Entertainment

Telugu actor P Navdeep appears before ED for money laundering probe

P Navdeep is the latest among the 10 Tollywood personalities questioned as part of a money laundering probe in connection with a high-end drugs racket that was busted in Hyderabad in 2017.

Poly Studio P5 Kit review: Roam, while working from home
News & Analysis

Poly Studio P5 Kit review: Roam, while working from home

Lockdown threw everybody into a tailspin, unless you were an experienced road warrior. Thankfully, companies are jumping into the new 'work from anywhere' product market.