On August 21, 2024, Procter & Gamble Health Limited shared its financial results for the quarter and fiscal year ending June 30, 2024.
In the fourth quarter, Procter & Gamble Health Limited reported sales of ₹277 crores, a 5% decline compared to the last year, primarily due to changes in their market approach. The profit before exceptional items and tax stood at ₹43 crores for the quarter, which is 3% lower than last year. Exceptional items included a ₹20 crore impairment charge.
For the entire FY ending June 30, 2024, the company’s sales reached ₹1,129 crores, reflecting a 6% decrease from the previous year. The annual profit before exceptional items and tax was ₹294 crores, down 7% from the prior year.
Mr Milind Thatte, Managing Director, P&G Health India, commented on the performance, stating, “Our results this quarter reflect the typical seasonality of shipments during this period. In addition, we’ve made choices to strengthen the execution of our integrated strategy by deploying a transformed go-to-market model. We’re confident these changes will deliver superior reach, distribution, and retail execution and improve our long-term competitiveness.”
He further added, “Our strategy remains anchored on a focused product portfolio where performance is a key driver of brand preference, superiority (across product performance, packaging, brand communication, retail execution and value), constructive disruption, and an agile, accountable organisation. This integrated strategy continues to guide our efforts to generate sustainable, balanced top-and-bottom-line growth and value creation.”
“We continue to navigate the evolving market dynamics with resilience and explore innovative solutions to ensure our trusted, quality brands remain the preferred choice for healthcare professionals and consumers alike”, he added.
The Board of Directors has recommended a final dividend of ₹60 per equity share for the financial year ending June 30, 2024. Including the interim dividend of ₹200 per share, which featured a one-time special dividend of ₹150, the total dividend for the year will be ₹260 per share. This final dividend will be confirmed pending approval by shareholders at the 57th Annual General Meeting.
P&G is a global company that serves consumers with a strong portfolio of trusted, high-quality brands, including Ambi Pur®, Ariel®, Gillette®, Head & Shoulders®, Olay®, Oral-B®, Pampers®, Pantene®, Tide®, Vicks®, and Whisper®. The company operates in around 70 countries worldwide.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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