Procter & Gamble Health announced that the Board of Directors of the Company at its meeting held on 23 August 2023, inter alia, have recommended the final dividend of Rs 50 per equity Share (i.e. 500%) , subject to the approval of the shareholders.
The company said that the profit was impacted due to higher material cost and one-time employee cost.Revenue from operations rose marginally to Rs 301.18 crore during the quarter from Rs 295.89 crore posted in the same period a year ago. The sales grew at low single digit against the headwinds of slowing down of the category in the quarter.Profit before tax dropped 19.2% year on year to Rs 44.13 crore in the quarter ended 30 June 2023.Total expenses were at Rs 262.51 crore in Q4 June 2023, registering a growth of 7.44% on YoY basis. Cost of materials consumed stood at Rs 74.31 crore (up 2.54% YoY) while employee benefits expenses came in at Rs 55.40 crore (up 31.5% YoY) during the period under review.On full year basis, the companys net profit jumped 19.2% to Rs 229.47 crore on 10.3% rise in revenue to Rs 1,229.62 crore in FY23 over FY22.Milind Thatte, managing director, Procter & Gamble Health, “We continued our efforts towards brand and category development and thus delivered a strong performance in the fiscal, marked by consistent growth across all our brands. The quarter, however, witnessed a category slowdown across our portfolio. Despite these challenges, we continued our commitment to our strategy of five integrated choices: a portfolio of daily-use products where performance drives brand choice; superiority across product, package, brand communication, retail execution, and value; productivity; constructive disruption of the entire value chain; and a highly efficient and effective organization structure.”Meanwhile, the firms board has recommended a final dividend of Rs 50 per equity share, for the financial year ending 30 June 2023, subject to the approval of the shareholders.Procter & Gamble Health (P&G Health) is one of Indias largest VMS companies, manufacturing and marketing vitamins, minerals, and supplements products that include Neurobion, Livogen, SevenSeas, Evion, Polybion and Nasivion.