New Delhi, April 24 -- Procter & Gamble (P&G) shares surged more than 3% on Friday after the American consumer products leader announced fiscal third quarter profits that exceeded Wall Street projections. P&G cautioned regarding an approximate $1 billion after-tax impact on its fiscal 2027 earnings due to soaring oil costs, aligning with various international firms reporting major expenditure strains from the Iran conflict.

The Pampers and Tide producer's projected profit reduction ranks among the most significant outside the aviation industry, which depends extensively on petroleum. European competitor Nestle has cautioned about rising expenses stemming from the Strait of Hormuz closure, while Nivea-manufacturer Beiersdorf is weighing p...