Procter Gamble share price hits 52-week high after Q2 profit jumps 84%

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The FMCG firm reported a net profit to Rs 250.62 crore up from Rs 135.93 crore in the year-ago period.

P&G | Country: Unites States of America | Plastic packaging produced annually: 7,14,000 metric tonnes (Image: P&G)

P&G | Country: Unites States of America | Plastic packaging produced annually: 7,14,000 metric tonnes (Image: P&G)

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Procter & Gamble (P&G) share price jumped more than 7 percent in the morning session on February 4, a day after the FMCG reported an 84.37 percent increase in net profit to Rs 250.62 crore for the second quarter ended December 2020.

The company, which follows July-June financial year, posted a net profit of Rs 135.93 crore in the year-ago quarter, Procter & Gamble said in a regulatory filing. Its revenue from operations surged 18.52 percent to Rs 1,018.44 crore during the period under review.

“Both the feminine care and healthcare business delivered strong double-digit growth in the quarter and grew ahead of category,” the company said in an earnings statement.

The company has delivered double-digit profit growth for the second consecutive quarter this year, Managing Director Madhusudan Gopalan said.

“The growth was driven by the strength of our trusted product portfolio, strong retail execution and strong market recovery in the quarter,” he added.

The stock was trading at Rs 12,193.00, up Rs 839.15, or 7.39 percent. It has touched a 52-week high of Rs 12,395.90. It has touched an intraday high of Rs 12,395.90 and an intraday low of Rs 11,846.

The company also said that its board had declared an interim dividend of Rs 85 on every equity share of Rs 10 for FY 2020-21 .