P&G Health posts PAT of Rs48.9cr in June quarter results

Performance-driven by sales growth coupled with strategic choices in managing opex during the last two quarters impacted by COVID.

Sep 16, 2020 04:09 IST India Infoline News Service

Procter & Gamble Health Limited (formerly Merck Limited) announced its results for eighteen months and quarter ended June 30, 2020. The company delivered a strong performance with sales of Rs1,329.2cr in the eighteen-month period ending 30th June, against Rs818.2cr during the last 12-months fiscal period ended 31st Dec’18.

The stock ended at Rs10,017.10, down by Rs74.05 or 0.73% from its previous closing of Rs10,091.15 on the BSE.

Profit After Tax (PAT) for the 18-months period ended 30th June 2020 is Rs254.1cr as against Rs101.7cr (for continuing operations) in the previous 12-months fiscal year ending Dec’18. Performance-driven by sales growth coupled with strategic choices in managing opex during the last two quarters impacted by COVID.

While the quarter ended June 30, 2020 saw business operations being impacted across the country following the nation-wide lockdown imposed to contain the spread of COVID-19; the company delivered sales of Rs200.3cr, decline vs. Rs224.9cr year ago and Profit After Tax (PAT) of Rs48.9cr, up by 10.8% vs. year ago.

Milind Thatte, Managing Director, Procter & Gamble Health Limited said, “We began our journey with the vision of creating a much stronger presence in India’s fast-growing Consumer Health industry; through a brand portfolio backed by science and trusted by doctors, pharmacists and consumers, and the best of Consumer Health capabilities and cultures. With a single-minded focus towards this vision, the Company delivered a strong double-digit growth for 4 successive quarters up until the onset of the unprecedented Covid-19 pandemic. Despite initial impact on account of disruption in business operations, the Company continues to demonstrate a resilient performance ensuring minimal impact and arresting decline, delivering sales of Rs200.3 in the last quarter and Rs1,329.2 in the eighteen months’ period amidst very challenging circumstances.

He further added, “Since the onset of Covid-19 worldwide and in India, our priorities have been to protect the health and safety of our employees and partners, continually serve consumers with our products, and support communities and relief efforts. Despite the disruptions of the pandemic and subsequent lockdowns across the country, our employees worked tirelessly towards ensuring continued availability of our medicines and nutraceutical products for patients, consumers and doctors. As part of our Corporate Social Responsibility (CSR) initiative ‘Sehat’ (meaning Health), the Company has been supporting relief efforts providing essential materials such as PPEs and Gloves to Public Health workers; and Hygiene Kits and Food donations to vulnerable populations through our partner NGOs. With strong continuity plans in place, we are confident and committed towards ensuring continued availability of our medicines and nutraceutical products and delivering value to our shareholders.”

Procter & Gamble Health Limited has now transitioned from a January - December fiscal year to a July – June fiscal year aligned with the fiscal year followed by P&G globally.

The Board of Directors have recommended a final dividend of Rs230 per Equity Share (including a one-time special dividend of Rs188 per equity share) for the Financial Year ended June 30, 2020, subject to the approval of Shareholders of the company at the ensuing 53rd Annual General Meeting.

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