P&G on a downhill
FMCG player registers record loss this fiscal
Tags: P&GNovember 02, 2012 | comments ( 0 ) |
Hit by the weak rupee, Proctor & Gamble incurred huge losses this fiscal year. Indian unit of world’s largest FMCG player posted a loss of Rs 371.17 crore. This is company’s biggest loss in the past two decades. The company blames it on the weakening rupee and rise in investments. Another reason for the losses is the investment made in new and existing manufacturing plants.
The company, however, has reported the profit at the operational level. Company has invested Rs 2500 crore into the Indian unit to enhance the productivity. P&G is ramping up existing manufacturing units at Bhopal and Baddi and is setting up a new plant in Hyderabad, where construction work has recently started.
The company has doubled its reach since 2010 and now has a direct reach of 1.3 million outlets.
- ShopClues launches its first offline store in Lucknow
- Crocs opens its 100th store in India
- Williams-Sonoma, Inc. announces partnership with Reliance Brands for India Market
- Instant noodle brand YiPPee crosses Rs 1,000 crore sales mark
- Myntra CEO & CFO quit
- Levi Strauss plans to launch IPO
- Coffee Day Enterprises profit up by 60% in Q2 results
- Ecommerce to contribute 11% of FMCG sales by 2030: Nielsen
- Perpule Raises $4.7 million in Series A to Fuel Omni-Channel Retail & Consumer Commerce in India
- Kellogg plans to reorganize cookies and fruit snacks category