Colgate-Palmolive India’s Q3 profit rises 35.7% to Rs 330 crore

FMCG major Colgate-Palmolive India Ltd on Monday reported 35.71 per cent rise in net profit to Rs 330.11 crore for the December quarter, mainly due to double-digit growth in the toothpaste segment. Colgate-Palmolive India Ltd (CPIL) said in a regulatory filing that the oral hygiene products maker had posted a net profit of Rs 243.24 crore in the year-ago period.

In the third quarter of the current financial year, its sales increased by 8.21 percent to Rs 1,386.41 crore. It was Rs 1,281.21 crore in the same period a year ago.

CPIL’s total expenses during the quarter declined marginally to Rs 970.14 crore. CPIL’s total income increased by 8.6 percent to Rs 1,413.54 crore in the quarter under review. “We are pleased with the topline growth for the quarter supported by the strong performance of our core equities. Profitability indicators are trending upward and we continue to increase investment support behind our brands,” said Prabha Narasimhan MD and CEO.

The current performance underlines the effectiveness of our strategy, focus on technology, securing the right talent and efforts in governance and cost management.

“These initiatives have led to continued growth for the company, with our toothpaste segment achieving double-digit growth and positive volume expansion,” he said. Shares of Colgate-Palmolive India Ltd closed at Rs 2,534.15, up 1.77 per cent on the BSE on Monday.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)