PGHL drops 5.5%

Procter & Gamble Health Ltd (PGHL) is currently the top loser on the BSE; the stock opened 2.3% lower at Rs.5211.6 and went down further to an intraday low at Rs.5040, down 5.5%.

The stock price fell after it announced a set of disappointing numbers for the quarter and fiscal year ended 30th June, 2023. The fourth quarter reported a sale of Rs.307 crore, up by about 3% (YoY). The sales grew at low single digit against the headwinds of slowing down of the category in the quarter. The company reported a PAT of Rs.30 crore, a decline of 28%  due to higher material cost and one-time employee cost.

The Board of Directors have recommended a final dividend of Rs.50 per Equity Share, for the Financial Year ending June 30, 2023. Considering interim dividend of Rs.45 per share, total dividend payout for the fiscal will be Rs.95 per share.