Procter & Gamble declares interim dividend of Rs 160 a share, Q2 net profit up 10% (Lead)

New Delhi, Jan 31 (IANS) FMCG major Procter & Gamble on Wednesday reported a 10 per cent increase in net profit at Rs 229 crore for the October-December quarter compared to the same quarter of the previous year.

The company, which follows the July-June financial year, declared an interim dividend of Rs 160 per equity share for the financial year 2023-24. This includes a one-time special dividend of Rs 60 per equity share to commemorate its 60th year since commencement of operations.

The company reported flat sales for the third quarter at Rs 1,131 crore. It also said that excluding impact of one-time items, its net profit PAT was up 15 per cent from a year ago.

The P&G board approved the appointment of Dr. Ashima Goyal, a former member of the RBI’s monetary policy committee, as non-Executive Independent Director of the company for a term of five years with effect from March 19, 2024, subject to the approval of the shareholders of the Company.

Procter & Gamble Hygiene and Health Care Ltd Managing Director L.V. Vaidyanathan said: "The quarter has remained challenging amidst a difficult operating environment. We remain committed to our integrated growth strategy of a focused product portfolio of daily use categories where performance drives brand choice. We are confident that this strategy will help us navigate the mid-term and deliver balanced growth and value creation."

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