India’s Procter & Gamble Hygiene and Health Care Ltd (PROC.NS) reported a reduction in quarterly revenues due to a decline in COVID-19 cases.
In the January-March quarter, Vicks inhalers and Whisper sanitary napkins sales declined 1% to 8.81 billion rupees ($107.73 million).
In an exchange filing, Omicron claimed the demand for its healthcare items, including Vicks VapoRub and throat drops. At the same time, rising cases drove sales growth in a similar period a year earlier.
After three years, the WHO lifted COVID-19’s worldwide emergency designation last week.
The company’s healthcare revenue was unclear.
India’s annual retail inflation soared in January before falling in the next two months, but it hampered consumer demand during the quarter.
P&G Hygiene and Health Care reported “resilient” performance in a “challenging operating environment.”
Profit jumped to 1.65 billion rupees from 1.03 billion a year earlier. Tax modifications yielded 575 million rupees.
Shares have dropped 6% this year.
Discounts and increasing material prices impacted Dabur India Ltd.’s (DABU.NS) quarterly profitability.
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