Procter & Gamble Hygiene and Health Care Ltd on Tuesday reported a 14 percent decline in net profit at Rs 218.29 crore for the first quarter ended September 30, 2021, impacted by commodity cost inflation.
The company, which follows July-June fiscal, had posted a net profit of Rs 253.86 crore in the same quarter last year, it said in a regulatory filing.
Revenue from operations during the quarter under review stood at Rs 1,058.30 crore as against Rs 1,009.45 crore in the corresponding period a year ago, it added.
During the quarter, total expenses surged to Rs 770.26 crore from Rs 683.31 crore in the year-ago period. The cost of raw materials consumed stood at Rs 343.04 crore as compared to Rs 328.96 crore.
''Despite a challenging market environment and a higher base period, we delivered strong growth in the first quarter driven by the strength of our trusted product portfolio and strong retail execution,'' the company's Managing Director Madhusudan Gopalan said.
He further said as the industry faces commodity inflation, the company has doubled down its focus on driving productivity and innovation to drive balanced top and bottom-line growth.
On the road head, Gopalan said,'' We continue to remain focused on our strategy of driving superiority, improving productivity, leading constructive disruption, and strengthening our organization and culture.''
The company said as part of its COVID19 relief and response program #PGSurakshaIndia, it will continue to extend support to communities through donations of in-house manufactured masks and sanitizers to combat the spread of the virus. It will also continue to leverage its advertising and brand voice responsibly to increase awareness on health, safety, and hygiene measures among consumers," it said.
(With inputs from PTI)
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