Procter & Gamble Hygiene & Healthcare spurted 7.45% to Rs 12,200 after standalone net profit jumped 84.4% to Rs 250.62 crore on 18.5% rise in net sales to Rs 1,018.44 crore in Q2 December 2020 over Q2 December 2019.
Net sales received a major boost owing to its superior strategy, robust product portfolio, strong retail execution and market recovery the company witnessed during the quarter. Profit after tax registered robust growth annually on account of strong sales growth, productivity savings and a one-time help in the quarter. In management's estimate, the profit for the quarter, excluding the one-time help, was up 34%. Both the feminine care and healthcare business delivered strong double-digit growth in the quarter and grew ahead of category.
Standalone profit before tax (PBT) soared 85.6% to Rs 337.71 crore in Q2 December 2020 as against Rs 182 crore in Q2 December 2019. Tax expense for the quarter surged 101.7% to Rs 91.22 crore as against Rs 45.22 crore in Q2 December 2019. The Q2 result was declared after market hours yesterday, 3 February 2021.
Commenting on the Q2 results, Madhusudan Gopalan, the managing director of Procter & Gamble Hygiene and Health Care, has said that: "We delivered double-digit profitable growth for the second consecutive quarter this year. The growth was driven by the strength of our trusted product portfolio, strong retail execution and strong market recovery in the quarter. As market recovers in the health and hygiene categories, we will continue to remain focused on our strategy of driving superiority, improving productivity, leading constructive disruption, and strengthening our organization and culture. These strategies have enabled us to consistently deliver results despite a challenging market environment and continue to be the right strategies to deliver balanced growth in the long-term."
The board has declared an interim dividend of Rs 85 on every equity share of Rs 10. The record date for the dividend is 11 February 2021.
Procter & Gamble Hygiene and Healthcare is an FMCG company.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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