Procter & Gamble Q1 net up 21.09% at Rs 54.79 crore

Procter & Gamble Hygiene and Health Care Ltd today reported 21.09 percent increase in net profit at Rs 54.79 crore in the first quarter ended September 30, 2013.

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The company, which follows July-June financial year, had reported net profit of Rs 45.27 crore in the corresponding period a year ago.

Procter & Gamble's net sales in the quarter under review stood at Rs 492.75 crore, an increase of 31.41 percent as against Rs 374.96 crore in the year-ago period, the company said in a BSE filing.

Commenting on the company's performance during the quarter, Procter & Gamble's Managing director Shantanu Khosla said: "In an evolving business environment, the company has yet again delivered robust growth this quarter. This was spearheaded by health care and feminine spearheaded categories."

Overall expenses during the quarter were at Rs 427.65 crore, up 26.88 percent compared with Rs 337.05 crore in the corresponding period last year.

"Profit growth is driven via cost discipline and pricing up to recover inflation and devaluation. Shares of Procter & Gamble's closed at Rs 2,785.65 at the end of the day's trade, up 1.27 percent from their previous close on the BSE.