Procter & Gamble announces Q2 results, net profit reduces to Rs.40.58 Crores

Procter & Gamble Hygiene & Health Care Ltd has announced the following Unaudited results for the quarter ended December 31, 2006:

The Company has posted a net profit of Rs 301.50 million for the quarter ended December 31, 2006 where as the same was at Rs 405.80 million for the quarter ended December 31, 2005. Total Income is Rs 1638.30 million for the quarter ended December 31, 2006 where as the same was at Rs 1550.10 million for the quarter ended December 31, 2005.

Sales and resultant cost of goods sold, for the current period, 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 second quarter, Mr. Bharat Patel, Chairman, of the Company said, "The strong double digit growth of 14% in the top line is testimony to our relentless focus on understanding and meeting the needs of both the consumer & retailer. We continue to stay market leaders in the categories we compete in by driving superior quality and value, product innovations, insightful marketing programs, strong trade plans, and expanded distribution."

Source : Equity Bulls

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