corrected-update 1-p&g profit falls on beauty brands sale, tax charge - oral b electric toothbrush sale

(
Corrected to "fiscal year" of "last year" in the first paragraph ")Jan 23 (Reuters)-
P & G reported a 68% drop in quarterly profits on Tuesday as the company sold most beauty brands to Coty Inc. in the last fiscal year and charged fees related to the recent US marketS. tax overhaul.
Shares of the company fell 1.
Pre-session trading of 4%.
Net income attributable to the company fell to $2.
The second quarter ended December was 50 billion, or 93 cents per share.
31, compared to $7.
88 billion, or $2.
88 a year ago.
The company said the net charge for the quarter was $0. 628 billion, a result of an estimated $3 in repatriation tax.
Net deferred tax benefits of $8 billion and $3. 2 billion.
Excluding the cost and other projects, the company made $1.
$19 per share, more than the average analyst estimate of $1. 14 per share.
Net sales of the world's largest consumer goods maker rose 3% to $17 by market value.
4 billion, thanks to strong sales in its healthcare and beauty business.
Demand for Olay skin care products and their highend SK-
Brand II drives sales of beauty business while its healthcare business benefits from strong sales of oral care products
Toothbrush and Vicks cough and cold products benefit from coldthan-
It's usually winter. Organic sales -
Excluding acquisitions, divestiture of assets and foreign exchange fluctuations
Shares rose 2%, the company said in a statement. (
Siddharth Cavale and the report that was able to change Sharma in Bangalore;
Editor Supriya Kurane and Anil D'Silva)