P&G Hygiene & Health Care (PGHH) reported poor set of numbers for the quarter. Revenue (net of excise duty for the base quarter) declined marginally by 1% yoy to Rs568.9cr. Gross margin for the company improved by 540bps, however same was offset by higher advertisement and other expenses. EBITDA, thus, declined by 4.8% yoy to Rs146.4cr. EBITDA margin contracted by 106bps yoy to 25.7%. Due to higher depreciation and lower other income, PAT declined by 16.5% yoy to Rs83.2cr.
Advertisement cost increased significantly by 334bps as percent of net sales to 12.8%. This was due to increased investments on product innovations and advertising.
Other expenses for the quarter also increased by 321bps yoy as percent of net sales.
Together, adex and other expenses, offset the 540bps saving in the raw material.
Depreciation for the quarter grew by 85.1% yoy to 26.3%.
Other income stood at Rs6.6cr against Rs23.2cr in same quarter last year.
Tax rate for the quarter stood at 34.1% vis-à-vis 38.3% in Q3FY17.
Procter & Gamble Hygiene and Health Care Ltd is currently trading at Rs. 9,330, down by 401.65 points or 4.13% from its previous closing of Rs. 9,731.65 on the BSE.
The scrip opened at Rs. 9,730 and has touched a high and low of Rs. 9,794.95 and Rs. 9,252 respectively. So far 9,071 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.
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