P&G Hygiene & Health Care (PGHH) reported disappointing set of numbers for the quarter. Revenue (net of excise duty for the base quarter) was up marginally by 4.3% yoy to Rs524.7cr. Gross margin for the company improved by 298bps, however same was offset by higher advertisement and other expenses. EBITDA reported steep decline of 36% yoy to Rs83.9cr. EBITDA margin contracted by 10pp yoy to 16%. PAT declined by 42.9% yoy to Rs44.6cr.
Advertisement cost increased significantly by 627bps as percent of net sales to 12.9%. This was due to increased investments on product innovations and advertising.
Other expenses for the quarter also increased by 524bps yoy as percent of net sales.
Depreciation for the quarter was down by 37.3% yoy to Rs12.3cr.
Other income stood at Rs6.8cr against Rs10.8cr in same quarter last year.
Tax rate for the quarter stood at 40.1% vis-à-vis 33.8% in Q4FY17.
Company recommended final dividend of Rs40 per equity share for FY18 (June ending).
Procter & Gamble Hygiene and Health Care Ltd ended at Rs. 10,729.95, up by 169.1 points or 1.6% from its previous closing of Rs. 10,560.85 on the BSE.
The scrip opened at Rs. 10,500 and touched a high and low of Rs. 10,733.95 and Rs. 10,476 respectively. A total of 1,993 (NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.
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