Procter & Gamble Hygiene and Health Care (P&G) on Tuesday reported a 13.85 percent rise in its net profit at Rs 69.21 crore for the quarter ended June. The company had posted a net profit of Rs 60.79 crore in the year-ago quarter.
According to a PTI report: Total income for the quarter under review stood at Rs 644.08 crore, down 0.50 percent from Rs 647.33 crore in the same quarter last year, P&G said in a regulatory filing.
The company attributed the increase in profit to “lower tax rates and a one-time hurt in the corresponding quarter of the previous year”.
“We delivered resilient results during this unprecedented crisis behind our strategy to focus on superiority and productivity, enabled by the commitment and agility of our organization to serve our consumers and communities,” Madhusudan Gopalan, Managing Director, Procter & Gamble Hygiene and Health Care Ltd was quoted by PTI as saying.
While the unprecedented market challenges and uncertainties remain in the near-term, the company will continue to stay focused to drive superiority and improve productivity and aim to drive balanced growth, he said.
The directors have recommended a dividend of Rs 105 per equity share for the financial year ended June 30, 2020.