P&G India Sales Soar Past $2 Billion

11 Nov 2024 , 11:51 AM

Over thirty years after entering the Indian market, Procter & Gamble (P&G), the largest consumer products manufacturer in the world, surpassed the $2 billion sales milestone. In FY24, the consumer goods manufacturer based in Cincinnati, USA, saw a 10% increase in net profit and an 8% increase in sales at its Indian branch.

After the pandemic-induced boom, P&G’s growth rate halved due to declining demand in the Indian consumer goods industry, as seen by the 15% increase in sales and 26% expansion in profit a year ago.

In the most recent fiscal year, P&G Home Products, the business’s largest division and an unlisted company that produces Pampers nappies, Pantene shampoo, and Tide detergent, witnessed a 37% increase in profit to ₹574 crore, while net sales increased by 11% to ₹9,413 crore.

In FY24, P&G India reported ₹17,429 crore in revenue and ₹1,583 crore in net profit across its four businesses: P&G Health, a pharmaceutical company; Gillette, a manufacturer of shaving products; P&G Health & Hygiene; and P&G Home Products.

P&G said that their integrated growth approach helped them achieve balanced growth in both revenue and profit in a difficult operating environment.

“A focused product portfolio of daily use categories where performance drives brand choice, superiority of product performance, packaging, brand communication, retail execution and consumer and customer value, productivity to fund this superiority and innovation, constructive disruption across the entire value chain, and an agile and accountable organization-are all aimed at delivering sustainable, balanced growth and value creation,” said Kumar Venkatasubramanian, chief executive officer of P&G India.

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