Procter & Gamble Health shares spike 13% on 71% surge in profit

Procter & Gamble Health’s profitability was supported by improved margin through portfolio premiumisation, healthy mix and optimization of expenses.

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Shares of Procter & Gamble Health rallied more than 13 percent on February 6 after stellar earnings performance for the three-month period ended December 2022.

The VMS (vitamins, minerals, supplement) manufacturer has recorded a massive 71 percent on-year growth in profit at Rs 76.8 crore for the second quarter of FY23, backed by healthy operating performance reported by the company.

“Profitability was supported by improved margin through portfolio premiumisation, healthy mix and optimisation of expenses,” said the company in a filing to exchanges. It follows July-June as its financial year.

Revenue from operations for the quarter at Rs 310 crore grew by 11.54 percent over the corresponding period last fiscal.