Procter & Gamble Health share price falls 5% on weak Q4 results
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Revenue from operations grew by 1.8 percent year-on-year to Rs 301.2 crore during the quarter.
Shares of Procter & Gamble Health dropped nearly 5 percent in early trade on August 24 following the release of disappointing fourth-quarter financial results.
At 10:30 am, the Procter & Gamble Health stock was trading 4.46 percent lower at Rs 5105.05 on the NSE.
The FMCG company has reported net profit at Rs 29.8 crore for quarter ended June FY23 (Q4FY23), falling 28 percent compared to year-ago period due to higher material cost and one-time employee cost.
Revenue from operations grew by 1.8 percent year-on-year to Rs 301.2 crore during the quarter. The company announced a final dividend of Rs 50 per share for financial year ended June 2023 as per a filing with BSE on August 23.
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Management Commentary
Milind Thatte, Managing Director, Procter & Gamble Health Limited, said: “The quarter witnessed a category slowdown across our portfolio.”
“Despite these challenges, we continued our commitment to our strategy of five integrated choices: a portfolio of daily-use products where performance drives brand choice; superiority across product, package, brand communication, retail execution, and value; productivity; constructive disruption of the entire value chain; and a highly efficient and effective organization structure.”
Details of dividend payment
The Board of Directors have recommended a final dividend of Rs 50 per equity share, for the financial year ending June 30, 2023. Considering interim dividend of Rs 45 per share, total dividend payout for the fiscal
will be Rs 95 per share, subject to the approval of final dividend by shareholders of the company at the ensuing 56th Annual General Meeting.
Stock Performance
Procter & Gamble Health stock has given a return of 14.34 percent over the last six months and has outperformed the benchmark Nifty50 index which has gained 10.77 percent over the same duration.
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