Procter & Gamble Q3 results: Net profit at Rs 91 crore; sales down 6% to Rs 656 crore

New Delhi: Procter & Gamble Hygiene and Health Care Ltd on Friday reported a marginal rise of 1.09 per cent in net profit at Rs 91.10 crore for the March quarter 2020 as the lockdown impacted its business operations.

The FMCG firm, which follows July-June financial year, reported a profit of Rs 90.11 crore in the year-ago period.

Net sales were down 6.19 per cent to Rs 656.05 crore in the latest quarter as against Rs 699.34 crore in the year-ago same period, P&G said in a BSE filing.

€œThe company was forecasting high single digit sales growth for the quarter before the lockdown. But following the nationwide lockdown to contain the spread of COVID-19, the business operations were severely disrupted across the country," P&G said in a post earning statement.

Total expenses during the quarter stood at Rs 545.70 crore as against Rs 568.79 crore earlier, down 4.05 per cent.

Shares of the company were trading at Rs 10,135 apiece on the BSE, down 0.28 per cent from the previous close.