Colgate-Palmolive India Q2 Profit Up 16% to Rs 395 Cr

New Delhi, Oct 24 (PTI) FMCG major Colgate-Palmolive India Ltd on Thursday reported an increase of 16.17 per cent in its net profit at Rs 395.05 crore in the quarter ended September 2024, led by a broad-based growth across portfolios.

The oral hygiene product maker had posted a net profit of Rs 340.05 crore in the July-September quarter a year ago, according to a regulatory filing by Colgate-Palmolive India Ltd (CPIL).

Its sales were up 10.04 per cent to Rs 1,609.21 crore during the quarter under review. It was at Rs 1,462.38 crore in the corresponding period a year ago.

Total expenses of CPIL in the latest September quarter were up 13.6 per cent year on year to Rs 1,695.09 crore.

The company's total income, including other income, was Rs 1,164.64 crore, up 12.60 per cent annually.

The profit growth of 16 per cent in Q2 FY25 also "includes one-off credit related to interest on income tax refunds received during the quarter", said CPIL in its earnings statement

"Advertising spend increased by 17.8 per cent in the current (July-September) quarter as compared to the same period last year with increased support behind both brand and category development actions. At the same time, the company increased the investment behind delivering perceivably superior products to consumers," it added.

MD & CEO Prabha Narasimhan said CPIL had a consistent topline performance in a tough operating environment.

"This has been led by broad-based growth across portfolios. Toothpaste achieved high-single-digit volume growth on the back of our core brands - Colgate Maxfresh and Colgate Strong Teeth," she said.

Toothbrush continued to grow at double digits with rapid premiumisation.

"We expect continued difficult market conditions but remain committed to leveraging our very strong P&L which allows us to continue to invest behind superior products and advertising while we maintain our focus on ensuring better oral health for everyone in India," Narasimhan added.

Shares of Colgate-Palmolive India Ltd on Thursday were trading at Rs 3,211.20 on BSE, down 3.69 per cent.