Procter & Gamble Hygiene and Health Care Ltd (PGHH) reported a significant increase in Profit After Tax (PAT), rising over three-fold to Rs 151.24 crore in the June quarter from Rs 42.55 crore in the previous year’s corresponding quarter.
During the same quarter, its net sales increased by 12.31% to reach Rs 848.74 crore, compared to Rs 755.65 crore in the previous year. PGHH attributed this growth to strong base business performance and one-time assistance.
For the full financial year ending June 30, 2023, PAT rose by 17.78% to Rs 678.14 crore, up from Rs 575.75 crore in the previous year. The total income for the year reached Rs 862.63 crore, a 10.3% increase.
PGHH’s board recommended a final dividend of Rs 105 per equity share for the financial year ended June 30, 2023. Additionally, Mukta Maheshwari was appointed as the Chief Marketing Officer, effective from September 1, 2023.
P&G Hygiene and Health Care shares closed at Rs.15874.15, down 3.55% on BSE.
On Monday, Motilal Oswal suggested a neutral rating for P&G, setting a target price of Rs. 16,940.