India’s Procter & Gamble Hygiene and Health Care Ltd, while announcing Q2 results of the current fiscal, said its board also approved and declared an interim dividend of 80 rupees per equity share.
“we are pleased to inform you that the Board of Directors of the Company at its meeting held today, inter alia, have declared an Interim Dividend for the Financial Year 2022-23 of Rs. 80 per Equity Share (Face Value of Rs. 10/- each). The dividend shall be paid on or before February 28, 2023. As informed earlier in our letter dated January 9, 2023, the record date for the purpose of eligibility for payment of said Interim Dividend shall be February 8, 2023,” the company informed in an exchange filing on Tuesday.
With a market valuation of Rs 44,806 crore on the BSE, Procter & Gamble Hygiene & Healthcare Ltd is a large-cap corporation that operates in the Fast Moving Consumer Goods (FMCG) industry. The FMCG stock is down more than 6 per cent in a year’s period.
Procter & Gamble Hygiene and Health Care Ltd reported a drop in second-quarter profit, hit by higher cost of commodities and a slowdown in the broader fast-moving consumer goods (FMCG) sector in the country.
Total expenses for the company rose about 7 per cent to 8.65 billion rupees and profit fell nearly 2 per cent to 2.07 billion Indian rupees ($25.33 million) for the three months ended Dec. 31. Shares of the company closed nearly 3 per cent lower in January amid broader weakness. They fell about 6 per cent last year.
Revenue from operations for Procter & Gamble Hygiene and Health Care, which houses sanitary napkin brand Whisper and aftershave maker Old Spice, rose 4 per cent to 11.37 billion rupees in the quarter, compared with an about 7 per cent growth a year earlier.
LV Vaidyanathan, Managing Director, Procter & Gamble Hygiene and Health Care Ltd. said, “Despite external headwinds and macro-economic environment, we delivered a resilient performance as this quarter recorded sequential progress across topline and bottom line, enabled by the strength of our brands and executional excellence. This has been possible behind our integrated growth strategies of a focused product portfolio, superiority, productivity, constructive disruption, and an agile and accountable organization. We believe that these are the right strategies for us to navigate the nearterm challenges and drive a balanced growth.”
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