Procter & Gamble Q1 net profit marginally down at Rs.25.6 Crores

Procter & Gamble Hygiene & Health Care Ltd has announced the following Unaudited results for the quarter ended September 30, 2006:

The Company has posted a net profit of Rs 256.00 million for the quarter ended September 30, 2006 where as the same was at Rs 258.30 million for the quarter ended September 30, 2005. Total Income is Rs 1346.20 million for the quarter ended September 30, 2006 where as the same was at Rs 1960.30 million for the quarter ended September 30, 2005.

Sales and resultant cost of goods sold for the current quarter are impacted due to the transfer of the Company's detergent manufacturing business to Procter & Gamble Home Products Ltd, a 100% subsidiary of The Procter & Gamble Company, USA, effective October 01, 2005. Hence previous period’s/year’s figures are strictly not comparable with those of the current period. Accordingly, with effect from October 01, 2005, the company operates in only one reportable segment - Business of Manufacturing and Marketing of Health and Hygiene Products.

Sharing perspective on the results for the first quarter, Mr. Bharat V Patel, Chairman, of the Company said, "We are very pleased with the first quarter performance and the strong 21% growth in our core categories - Feminine Hygiene and Health Care - behind focused marketing initiatives and deeper distribution. VICKS brand growing at 16% despite being over 50 years old and No.1 Health Care brand in India testifies to the good growth potential of our Company’s products".

Source : Equity Bulls

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