Colgate-Palmolive posts Q2 net profit of Rs 196 crore
FMCG major Colgate-Palmolive India Ltd (CPIL) saw its net profit rise 10 percent for the quarter ended September 30, 2018, to Rs 196 crore (approx $26.7 million). The company posted a net profit of Rs 178 crore during the same period last fiscal.
The company’s revenue also jumped 8 percent to Rs 1,161 crore in the July-September quarter, as compared to Rs 1,078 crore it had posted in the year-ago period.
CPIL’s total expenses also shot up 7 percent to Rs 878 crore as against Rs 823 crore.
Commenting on the results, CPIL MD Issam Bachaalani in a statement said, "Our aggressive efforts in the market have brought about an upswing in the overall growth momentum resulting in a volume growth of 7 percent in the second quarter.
"Understanding the shift of preference that consumers are exhibiting towards e-commerce, we continue to invest ahead of the growth curve with the objective of being market leaders online as well in addition to traditional stores," Bachaalani added.
During the quarter, CPIL had picked up a strategic stake in men’s grooming firm Bombay Shaving Company with an investment of Rs 18 crore ($2.6 million) to boost its personal care segment in India.
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