Colgate-Palmolive Q1 net profit down 11 percent to Rs 169 crore
FMCG major Colgate-Palmolive India Ltd (CPIL) witnessed an 11 percent decline in net profit to Rs 169 crore ($24.6 million) for the first quarter ended June 30, 2019, as against Rs 190 crore it had posted during the same period last fiscal.
The company’s revenue in the April-June quarter also jumped 5 percent to Rs 1,100 crore as compared to Rs 1,050 crore it had reported in the corresponding quarter a year ago.
Commenting on the Q1 results, lssam Bachaalani managing director at Colgate-Palmolive (India) Ltd in a statement said, “The current quarter saw a moderation in demand impacted by lower than expected growth in the rural markets. We do consider this trend to be temporary and expect a pickup over the coming quarters.”
“Despite the moderation, the company continues to remain focussed on strengthening the core of our business and investing in our advertising and brand building activities,” he added.
CPIL is one of the leading players in India’s personal care segment with a strong portfolio of brands in the grooming segment. Last year, the company had invested Rs 18 crore to pick up a strategic stake in men’s grooming firm Bombay Shaving Company.
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