P&G Health stock drops 4% despite growing standalone net income 224% YoY in March 2022 quarter
Procter & Gamble Health Limited has announced its financial results for the three months ended March 31, 2022.
The company achieved total sales of Rs262 crore for the quarter ended March 31, 2022 from Rs214 crore, up 23% from a year earlier. Profit after tax (PAT) was Rs 51.2 crore, up 224% from a year earlier.
The increase in PAT is due to higher sales and lower marketing and depreciation expenses compared to the same period last year. Sales for the nine-month period ending March 31, 2022 were Rs 803 crore, up from Rs 710 crore up 13% from a year ago. The PAT for a nine-month period is Rs151 crore compared to Rs143 crore a year ago, despite strong inflationary pressures.
At around 9:21 a.m., Procter & Gamble Health stock was trading at 4267.05 rupees per piece, down 4.21% on BSE.
Milind Thatte, Managing Director of P&G Health India, said, “We have been able to deliver consistent revenue and profit growth over the past few quarters. Our strong portfolio of products that meet the growing demand for daily supplements and the renewed focus on expanding reach and improving productivity continue to be the pillars of our strategy. We will leverage our strengths in medical marketing, technology and distribution to better serve the consumers and customers who rely on us.
“We continue our efforts in promoting consumer education, awareness of women’s health and general health and wellness. This year, we launched the Women in Healthcare Summit as a platform to encourage more women to join the healthcare and pharmacy sectors.
We continue to strengthen and expand our projects under SEHAT, our CSR program which aims to contribute to building a healthier India. Recently, we partnered with Apnalaya to expand our support for the urban poor and provide care for underprivileged pregnant women, new mothers and newborns,” he added.