Clorox's quarterly net profit falls nearly 34 pct
Oct 31 (Reuters) - U.S. cleaning products maker Clorox Co reported a nearly 34 percent drop in quarterly net profit, hurt by a strong dollar, and higher trade promotion spending.
Net profit fell to $90 million, or 68 cents per share, in the first quarter ended Sept. 30, from $136 million, or $1.03 per share, a year earlier.
From continuing operations, the company earned $145 million or $1.10 per share compared with $139 million or $1.05 per share, a year earlier.
Clorox discontinued its operations in Venezuela from Sept. 22, calling the business unviable.
Sales rose 0.7 percent to $1.35 billion, helped by price increases in international markets.
(Reporting by Tresa Sherin Morera in Bangalore)
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