Colgate-Palmolive India Q2 net up 12 pc to Rs 274 cr

FMCG major Colgate-Palmolive India Ltd on Wednesday reported a 12.32 per cent increase in net profit at Rs 274.19 crore for the quarter ended September 2020.

The company had posted net profit of Rs 244.11 crore in the July-September period a year ago, Colgate-Palmolive India Ltd (CPIL) said in a BSE filing.

Net sales rose 5.31 per cent to Rs 1,277.66 crore during the quarter under review, as against Rs 1,213.21 crore in the corresponding period a year ago.

CPIL Managing Director Ram Raghavan said, "We continue to see momentum strengthening across the portfolio with Domestic revenue growing at 7.1 per cent this quarter." "Our resilience and disciplined approach to managing all revenue and cost drivers, despite all the uncertainties and challenges around us, drove improvements in key financial metrics with gross margins and EBITDA at 67.9 per cent and 32 per cent respectively. Our Net Profit before tax grew by 32 per cent," he said.

All categories saw positive growth in the quarter, with the toothpaste segment continuing its accelerated performance, driven by strong brand fundamentals and household penetration, he added.

CPIL's total expenses were at Rs 924.12 crore during the quarter, compared to Rs 951.66 crore earlier, down 2.89 per cent.

Shares of Colgate-Palmolive India Ltd on Wednesday settled at Rs 1425.35 on BSE, down 2.56 per cent.

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