Colgate Palmolive Q4 net profit rises 3 percent to Rs 204 crore
Fast-moving consumer goods major Colgate-Palmolive India reported a 3 percent rise in its fourth-quarter net profit at Rs 204 crore ($27.1 million), as against Rs 198 crore it had posted in the year-ago period.
The company’s net sales decline by 7 percent to Rs 1,062 crore during the quarter under review, as against Rs 1,147 crore in the year-ago period. The company attributed the fall in sales to Covid-19 disruptions across the country.
Colgate-Palmolive’s total expenses were down 3 percent at Rs 857 crore during the March quarter, as against Rs 885 crore a year ago.
Commenting on the earnings, CPIL managing director, Ram Raghavan, in a statement said: "The Covid-19 pandemic has required us to think, operate and behave differently. The lockdown did have an impact on our business, as seen in our results.
“The health and wellbeing of consumers, business partners, and employees have always been its utmost priority. Our immediate attention is channelled towards fulfilling the continued demand that we are seeing for our products,” he added.
For the fiscal year 2019-20, CPIL's net profit grew 5 percent to Rs 816 crore from last year’s Rs 776 crore, while its net sales was up by 1 percent to Rs 4,488 crore, as against Rs 4,432 crore in 2018-19.
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