P&G India Net Profit Sinks 18% In 2021-22

Due to unprecedented headwinds with commodity and cost inflation, the fast-moving consumer goods firm Procter & Gamble (P&G) India has posted a dip of 18 per cent in its net profit to Rs 1,334 crore in 2021-22 fiscal, while the sales of the company grew by 8 per cent year-on-year to Rs 13,985 during the same period.

The US-based company sells various products under four Indian entities: pharmaceuticals firm P&G Health, shaving products maker Gillette, P&G Health & Hygiene and P&G Home Products.

According to a media report, the company’s biggest arm, P&G Home Products, an unlisted entity which makes Tide detergent, Pantene shampoo and Pampers diapers, saw the biggest impact with profit down 43 per cent to Rs 277 crore on net sales of Rs 6,668 crore, a 5 per cent increase.

A P&G spokeswoman said the company has delivered a resilient performance in the fiscal by growing the top line and significantly countering the impact of these headwinds with measures on cost productivity and pricing in the year.