Procter & Gamble Co posted a higher quarterly profit on Friday, as the world's largest household products maker benefited from some growth overseas, cost cuts and a lower tax rate.

The maker of Pampers diapers and Tide detergent earned $3.03 billion, or $1.04 per share, in the fiscal first quarter, up from $2.81 billion, or 96 cents per share, a year earlier.

Core earnings per share, which exclude restructuring charges, fell 1 percent to $1.05.

(Reporting by Jessica Wohl in Chicago; Editing by Lisa Von Ahn)