PG Hygiene Profit Drops 7 Percent
Procter and Gamble Hygiene and Health Care posted a seven percent drop in quarterly profit as rising raw material and energy expenses weighed on margins. Shares of the Indian maker of Vicks and Whisper fell following the earnings report.
Insights:
India's Procter & Gamble Hygiene and Health Care posted a 7% drop in quarterly profit to 1.96 billion rupees ($20.93 million) on Thursday morning as raw material costs rose. The consumer goods maker faced supply chain strains stemming from conflict in the Middle East. Higher costs across energy and freight sectors are pressuring profit margins for manufacturers operating in India and globally.
