Revenue from operations slipped 5.74% year on year to Rs 283.88 crore during the quarter, owing to changes in the go-to-market model.
Profit before exceptional items and tax was at Rs 43.02 crore in the June quarter, down 2.52% from Rs 44.13 crore reported in the same period a year ago. The exceptional items include impairment charges amounting to 20.19 crore.
On full year basis, the company's net profit dropped 12.42% to Rs 200.98 crore on 6.37% fall in revenue to Rs 1,151.26 crore in FY24 over FY23.
Milind Thatte, managing director, P&G Health India, said, "Our results this quarter reflect the typically seasonality of shipments during this period. In addition, we’ve made choices to strengthen the execution of our integrated strategy with the deployment of a transformed go-to-market model. We’re confident these changes will deliver superior reach, distribution, retail execution and improve our long-term competitiveness.
Our strategy remains anchored on a focused product portfolio where performance is a key driver of brand preference, superiority (across product performance, packaging, brand communication, retail execution and value), constructive disruption and an agile, accountable organization. This integrated strategy continues to guide our efforts to generate sustainable, balanced top- and bottom-line growth and value creation.
We continue to navigate the evolving market dynamics with resilience and explore innovative solutions to ensure our trusted, quality brands remain the preferred choice for healthcare professionals and consumers alike,” he added.
Meanwhile, the company’s board recommended a final dividend of Rs 60 per equity share for the financial year ended 30 June 2024. The dividend will be paid by 25 December 2024, on approval of the members at the 57th annual general meeting.
Procter & Gamble Health (P&G Health) is one of India's largest VMS companies, manufacturing and marketing vitamins, minerals, and supplements products that include Neurobion, Livogen, SevenSeas, Evion, Polybion and Nasivion.