Colgate Palmolive Q2 net profit jumps 24 percent
Fast-moving consumer goods major Colgate Palmolive Pvt Ltd reported a 24 percent rise in its net profit to Rs 244 crore ($34.5 million) for the quarter ended September 2019 as against Rs 196 crore it reported in the year-ago period.
The company’s revenue for the quarter also rose by 5 percent to Rs 1,213 crore for the July-September period as against Rs 1,161 crore it had reported during the previous quarter ended September 2018.
Commenting on the results, managing director Ram Raghavan in a statement said, “Despite category headwinds in the current quarter, especially in rural and liquidity challenges in the market, we have reported a domestic net sales growth of 5 percent that is in line with our expectations.
“We continue to remain focused on driving innovation in the market, investing behind our brands through advertising and brand building activities along with strengthening our distribution infrastructure in the market,” 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. It also owns a stake in men’s grooming firm Bombay Shaving Company.
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