Pharma stock declares ₹45 interim dividend, posts 71% net profit growth in Q3

Procter & Gamble Health today said in a stock exchange filing that “we are pleased to inform you that the Board of Directors of the Company at its meeting held today, inter alia, have recommended an Interim Dividend for the Financial Year 2022-23 of Rs. 45 per Equity Share (Face Value of Rs. 10/- each). The dividend shall be paid on or before March 05, 2023. As informed earlier in our letter dated January 16,2023, record date for the purpose of eligibility for payment of said Interim Dividend shall be February 13,2023.”

In a press release today, Procter & Gamble Health Limited provided its financial results for the quarter ending December 31, 2022. The company has recorded a robust performance with revenue from operations of ₹309.97 crores in Q3FY23, compared to ₹277.9 crores in Q3FY22, recording a growth of 11.54% YoY. The Profit After Tax (PAT) or net profit was ₹76.8 crores in the quarter ended December 2022 against ₹44.84 crores recorded in the year-ago quarter, representing a growth of 71.27% YoY. The EPS of Procter & Gamble Health reached ₹45.3 in Q3FY23 compared to ₹27 in Q3FY22. Sales for the six-month period ending December 31, 2022, are up 10% to Rs. 596.6 crores from Rs. 541.0 crores in the same period last year, while net profit for the same period is up 40% to Rs. 140.5 crore from Rs. 100.2 crore.

Commenting on the healthy performance in Q3, Mr. Milind Thatte, Managing Director, P&G Health India, said “We delivered sales of ₹596.6 crores for half year, up by 10% over year ago, despite macroeconomic challenges, including rising inflation and high input costs. We have witnessed consistent growth over the second quarter and an overall promising first half of the year. Our encouraging financial results in the second quarter can be attributed to our core belief of bringing care closer to patients through innovative approaches. With continued focus on the health and wellness of patients and consumers, we launched Polybion A injection, a new and improved formulation, which can help doctors effectively manage the recovery of their patients, while giving a good boost to energy levels. On World Iron Deficiency Day, P&G Health in partnership with FOGSI (The Federation of Obstetric and Gynecological Societies of India) initiated the ‘Na Na Anemia Bus Yatra’, a 40-day Bus Yatra across 20 cities and 5 states to create awareness on Iron Deficiency Anemia. As a leader in Nerve Health and a partner to International Diabetes Federation, on World Diabetes Day 2022, P&G Health launched a large scale collective awareness effort on Peripheral Neuropathy which was recognized among India’s top diabetes campaigns by Obesity International.”

“The quarter also saw recognition of our Brand and Citizenship efforts through the prestigious awards – (1) CIMS Annual Wellness and Nutrition Awards ‘Trusted Brand of the Year’ (Polybion), (2) CIMS Annual Wellness and Nutrition Awards ‘Health and Wellness Product of the Year’ (Neurobion), (3) India Health & Wellness Awards ‘Gold’ for Health Awareness Campaign of the year (Neurobion ‘Feel Life’ and Livogen ‘LetHerBreakFree’) and (4) India Health & Wellness Awards ‘Silver’ (SEHAT Public Health Initiative). This has further encouraged us in our commitment to serve Indian consumers and empower them to live healthier and more vibrant lives,” he added.

On Friday, the shares of Procter & Gamble Health Limited closed on the NSE at ₹4,094.35 apiece level, up by 0.15% from the previous close of ₹4,088.40. The stock recorded a total volume of 2,928 shares compared to the 20-Day average volume of 4,283 shares. The stock reached a 52-week-high of ₹5,171.95 on (02-Feb-2022) and a 52-week-low of ₹3,870.10 on (30-Dec-2022).