Colgate-Palmolive Q2 net profit rises 3 percent to Rs 278 crore

By

Maverick Martins

Published
Oct 20, 2022

Colgate-Palmolive (India) witnessed a 3 percent rise in its net profit to Rs 278 crore ($33.7 million) for the third quarter ended September 2022, as against Rs 269 crore it posted in the year-ago period.

The company’s revenue for the quarter rose by 3 percent to Rs 1,378 crore, as against Rs 1,343 crore it had reported in the corresponding period of the previous fiscal year.

Colgate’s total expenses for the quarter were up by 2 percent to Rs 1,024 crore, as against Rs 998 crore it reported in the year-ago period.

Commenting on the Q2 performance, Prabha Narasimhan, managing director at Colgate-Palmolive (India) in a statement said, “The current quarter has seen improved momentum versus prior quarters driven by focused deployment of initiatives during the festive season. We continue to remain cautiously optimistic on the overall growth trend, especially in rural, and are encouraged by the growth of modern trade and e-commerce businesses in the current quarter.”

“Our endeavor will be to deliver sustainable gross margins and continue to invest in our core while driving premiumisation and category expansion into personal care. We continue our focus on delivering innovation led profitable growth and value to our consumers and shareholders,” he added.

Colgate-Palmolive India 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.