P&G Well being declines 6% on revenue reserving submit June quarter outcomes

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Shares of Procter & Gamble (P&G) Health slipped 6 per cent to Rs 5,330 on the BSE in the intra-day trade on Wednesday on profit booking. The company reported 10.8 per cent year on year (YoY) growth in net profit at Rs 48.90 crore for June quarter.

The pharmaceutical company reported 11 per cent YoY decline in sales at Rs 200 crore, as the business operations got impacted across the country following the nationwide lockdown imposed to contain the spread of Covid-19.

The company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) margin improved to 31.7 per cent from 30.82 per cent. The performance was driven by sales growth coupled with strategic choices in managing opex during the last two quarters impacted by Covid, the management said.

The board of directors of the company recommended a final dividend of Rs 230 per equity share (including a one-time special dividend of Rs 188 per equity share) for the financial year ended June 30, 2020. The dividend shall be paid between November 30, 2020 and December 18, 2020.

The stock hit a record high of Rs 5,683 on Tuesday, September 15, 2020. In the past three months, it has rallied 43 per cent as compared to 16 per cent rise in the S&P BSE Sensex.

At 01:46 pm, Health was trading 4.4 per cent lower at Rs 5,408, as against 0.49 per cent rise in the benchmark index. A combined 62,000 equity shares had changed hands on the counter on the NSE and BSE till the time of writing of this report.

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