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
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.
P&G reports earnings for Jan-March quarter. Net profit comes in 1.1% higher while EBITDA slips 13% year-on-year pic.twitter.com/Fi0ZOtDeSM
— CNBC-TV18 (@CNBCTV18Live) May 8, 2020
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.
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