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P&G reports 28.64 per cent decline in net profit

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FMCG major (P&G) today reported a 28.64 per cent decline in net profit at Rs 78.04 crore for the fourth quarter ended June 30, 2017.

P&G reports 28.64 per cent decline in net profit
Total income during the quarter under review stood at Rs 540.77 crore as against Rs 584.47 crore in the year-ago period

According to a PTI report: The company, which follows a July-June financial year, had posted a net profit of Rs 109.37 crore during the same period of previous fiscal, P&G said in a BSE filing.

Total income during the quarter under review stood at Rs 540.77 crore as against Rs 584.47 crore in the year-ago period.

Sales during the year were at Rs 2,419.16 crore as compared to Rs 2,349.15 crore in the previous fiscal.

The company said it reported higher sales during the year despite challenges of liquidity crunch in the second quarter and trade destocking ahead of GST in the fourth quarter.

For the entire fiscal, P&G posted a net profit of Rs 432.73 crore as compared to Rs 422.50 crore in the fiscal ended June 30, 2016.

Meanwhile, the company said its board has approved a dividend of Rs 27 per equity share for the fiscal ended June 30, 2017.