P&G Health slides as Q4 PAT drops 28% YoY Capital Market • 4 months agoThe 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.
