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P&G: Poor Monsoon Impacts Revenue Growth - Views on News from Equitymaster
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P&G: Poor Monsoon Impacts Revenue Growth
Nov 26, 2015

Procter & Gamble Hygiene and Health Care Ltd. announced its results for the quarter ended September. The company reported a 4% YoY growth in revenues while profits rose by 13% YoY during the quarter. Here is our analysis of the results.

Performance summary

  • Revenues grow by 4% YoY during the quarter.
  • Operating profits rise by 23% YoY as margins expand to 16.2% from 13.7% in same quarter last year.
  • Net profits up by 13% YoY due to higher depreciation charges and an increase in the effective tax rate.

Standalone and Consolidated financials

Rs(m) 1QFY15 1QFY16 Change
Income 5,765 5,986 3.8%
Expenditure 4,975 5,018 0.9%
Operating profit (EBDITA) 790 968 22.5%
EBDITA margin (%) 13.7% 16.2%  
Other income 210 212 0.8%
Interest 12 12 0.0%
Depreciation 112 127 14.0%
Profit before tax 877 1,041 18.7%
Tax 262 344 31.0%
Profit after tax/(loss) 615 698 13.4%
Net profit margin (%) 10.7% 11.7%  
No. of shares (m)   32  
Diluted earnings per share (Rs)*   109.2  
Price to earnings ratio (x)*   53.3  

*trailing twelve month earnings

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