Procter & Gamble Health announces Third Quarter Results

Procter & Gamble Health Limited announced its financial results for the quarter ended March 31, 2024. The company delivered total sales of ₹248 crores for the quarter ended March 31, 2024, vs ₹316 crores, a year ago. The Profit After Tax (PAT) stood at ₹46 crores, down by 21% from the previous year. For the nine-month period ending March 31, 2024, sales was ₹852 crores, vs ₹913 a year ago. The PAT for the nine-month period was ₹184 crores, compared to ₹200 crores a year ago.

Mr. Milind Thatte, Managing Director, P&G Health India, said, "The Company's continued efforts to strengthen our reach and distribution with a transformed go-to-market model reflected in a one-time impact on the quarter's sales owing to the transition and optimization of trade management and inventory. However, we have seen sales recover in the months of March and April.

We continue to drive operational efficiency and explore innovative solutions to accelerate category growth and demand for our portfolio of trusted, quality healthcare brands. The quarter also witnessed prescription growth and share gain for our doctor detailed products indicating a robust demand, and increased efforts to improve awareness of our self-select products.

We remain confident in our integrated growth strategy of a focused product portfolio where performance drives brand choice, superiority, productivity, constructive disruption, and an agile and accountable organization structure to help drive growth and value creation," he added.

Shares of Procter & Gamble Health Limited was last trading in BSE at Rs. 4749.20 as compared to the previous close of Rs. 4810.15. The total number of shares traded during the day was 637 in over 315 trades.

The stock hit an intraday high of Rs. 4795.65 and intraday low of 4689.35. The net turnover during the day was Rs. 3016264.00.

Source : Equity Bulls

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ProcterandGambleHealth INE199A01012 Q3FY24 ResultUpdate