Colgate-Palmolive India Q1 Profit Surges 33% to Rs 364 Cr

New Delhi, Jul 29 (PTI) FMCG major Colgate-Palmolive India on Monday reported 33 per cent rise in net profit at Rs 363.98 crore for the first quarter ended June 2024, helped by a demand pickup and good performance of products.

The oral hygiene product maker had posted a net profit of Rs 273.68 crore in April-June FY24, according to a regulatory filing from Colgate-Palmolive India Ltd (CPIL).

Sales were up 13 per cent to Rs 1,485.76 crore during the quarter under review as against Rs 1,314.73 crore in the corresponding period a year ago.

"The quarter witnessed continued demand pickup in rural markets outpacing growth in urban markets for the second quarter in a row. Led by this and good all-round performance of toothpaste, toothbrush and personal care, domestic revenues grew by 12.8 per cent year-on-year for the quarter,"said CPIL in its earning statement.

Total expenses in June quarter was up 8.46 per cent to Rs 1,030.86 crore.

Total income, which includes other income also, was at Rs 1,520.11 crore, up 13.55 per cent.

MD & CEO Prabha Narasimhan said:"Our toothpaste portfolio witnessed double-digit growth driven by high-single digit volume growth. Our continued investments in perceivable superiority in product, brand building and innovation are yielding significant results while strengthening our brand metrics to highest ever levels."

Toothbrush portfolio of CPIL has also seen a positive shift in competitive growth trajectory with strong double-digit growth in topline.

"EBITDA margins remained consistent despite the higher investment in advertising, which increased by 10 per cent y-o-y," she added.

Shares of CPIL on Monday settled at Rs 3,209.15 apiece on BSE, up 1.43 per cent.