New Delhi : Colgate Palmolive India posted a decline of 15.29 % in its standalone net profit at Rs 114.28 crore for the first quarter ended June against Rs 134.91 crore in the same period of the previous fiscal, Colgate Palmolive said.
Net sales on a standalone basis was Rs 1,010.15 crore, up 5.56 %, during the quarter as against Rs 956.90 crore in the same period last year. “The organic growth of the company stands at 8.8 %, however, due to the phasing of our fiscal benefits in the state of Himachal Pradesh which the company was entitled to impacted the revenue growth to give a reported growth of 5.5 % over the same period of the previous fiscal,” the firm said.
It also informed that the board of the company recommended a bonus issue of one equity share for every equity share held, as on the record date to be determined by the Board. “The bonus issue of equity shares will be subject to approval by the shareholders, through postal ballot and the record date will be announced separately,” Colgate Palmolive (India) said.
