Procter & Gamble Hygiene and Health stock slips in trade: Procter & Gamble Hygiene and Health stocks fell up to 3.76 per cent to hit an intraday low of Rs 16,342 per share on Thursday, August 29, 2024.
The fall in Procter & Gamble Hygiene and Health stock came after the company announced a weak set of financial results for the fiscal and quarter ended June 30, 2024.
The company’s profit plunged 43.6 per cent year-on-year (Y-o-Y) to Rs 31.2 crore in the three months ended June 30, 2024, as opposed to Rs 55.3 crore during the same period last year.
Revenue from operations, however, rose 9.3 per cent to Rs 931.8 crore in the quarter under review, as against Rs 852.5 crore a year ago.
At the operating front, earnings before interest, tax, depreciation and amortisation (Ebitda) plummeted 44.7 per cent Y-o-Y to Rs 118.8 crore in the June quarter this year versus 214.9 crore in the same quarter a year ago.
Consequently, Ebitda margin squeezed 1,240 basis points (bps) to 12.8 per cent, as against 25.2 per cent in the same quarter previous year.
“Even in a challenging operating environment, we delivered a balanced growth this year, while continuing to drive category growth through innovations that delight our consumers. These results are a testament to our teams’ execution of the integrated growth strategy, which we remain committed to – a focused product portfolio of daily use categories where performance drives brand choice, superiority (of product performance, packaging, brand communication, retail execution and consumer and customer value), productivity, constructive disruption, and an agile and accountable organisation – all aimed at delivering sustainable, balanced growth and value creation,” said V Kumar, managing director, Procter & Gamble Hygiene and Health Care Ltd.
The company also announced a dividend of Rs 95 per share. “We are pleased to further inform you that the Board of Directors of the Company at its meeting held today, inter alia, have recommended a final dividend of Rs. 95 per Equity Share (Nominal Value of Rs. 10/- each), for the Financial Year ended June 30, 2024. The dividend shall be paid between November 19, 2024 to December 15, 2024, on approval of the Members at the 60th Annual General Meeting,” Procter & Gamble Hygiene and Health Care added.
Procter & Gamble Hygiene and Health Care is among India’s top FMCG companies, boasting a portfolio that includes Whisper, the country’s leading feminine hygiene brand, VICKS, the top health care brand in India, and Old Spice. The market capitalisation of Procter & Gamble Hygiene and Health Care is Rs 53,621.89 crore, according to Bombay Stock Exchange (BSE).
At 11:17 AM, shares of Procter & Gamble Hygiene and Health Care were trading 2.83 per cent lower at Rs 16,500 apiece.In comparison, BSE Sensex was trading 225.44 points or 0.28 per cent higher at 82,011 levels.
First Published: Aug 29 2024 | 11:28 AM IST
