Colgate-Palmolive India Q3 Profit Surges 35.7% to Rs 330 cr

Jan 22, 2024 17:05

Colgate-Palmolive India's net profit jumped 35.71% to Rs 330.11 crore in the December quarter, driven by strong toothpaste sales growth. The company's revenue also increased by 8.21% to Rs 1,386.41 crore.

New Delhi, Jan 22 (PTI) FMCG major Colgate-Palmolive India Ltd on Monday posted a 35.71 per cent increase in net profit to Rs 330.11 crore for the December quarter mainly led by a double-digit growth in the toothpaste segment.

The oral hygiene product maker had posted a net profit of Rs 243.24 crore in the year-ago period, Colgate-Palmolive India Ltd (CPIL) said in a regulatory filing.

Its sales were up 8.21 per cent to Rs 1,386.41 crore in the third quarter of the current fiscal. It was at Rs 1,281.21 crore in the corresponding period a year ago.

CPIL's total expenses were Rs 970.14 crore, marginally down during the quarter.

CPIL's total income in the quarter under review was at Rs 1,413.54 crore, up 8.6 per cent.

"We are pleased with top line growth for the quarter supported by the strong performance of our core equities. Profitability indicators are on an upward trend and we continue to enhance the investment support behind our brands," Prabha Narasimhan MD & CEO said.

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

"These initiatives have yielded consistent growth for the company, with our toothpaste segment achieving double-digit growth and positive volume expansion," she added.

Shares of Colgate-Palmolive India Ltd on Monday settled at Rs 2,534.15 on the BSE, up 1.77 per cent.