Colgate-Palmolive (India) Ltd on Thursday reported its fiscal second quarter earnings with profit growth of 16.2 per cent at Rs 395.05 crore in comparison to Rs 340.05 crore during the corresponding quarter of FY24, missing estimates. This includes one-off credit related to interest on income tax refunds received during the quarter. The company posted its ‘highest ever quarterly revenue’ at Rs 1619.11 crore, up 10.1 per cent as against Rs 1471.09 crore during the same period of previous financial year. The company EBITDA stood at Rs 497 crore.
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According to a CNBC TV18 poll, Colgate-Palmolive was expected to report Q2 profit at Rs 396 crore and revenue for the quarter in review was estimated at Rs 1625 crore.
The company board also declared its first interim dividend of Rs 24 per equity share of face value of Re 1 for the Financial Year 2024-25. “The said interim dividend will be paid on and from November 21, 2024 to those shareholders whose names appear in the Register of Members/Beneficial Owners of the Company as on the Record date i.e. November 04, 2024,” it said in a regulatory filing.
Colgate-Palmolive (India) Limited reported net sales at Rs 1,609.2 crore with all parts of the portfolio reporting strong consistent growth momentum.
The firm said that the advertising spend increased by 17.8 per cent in the current quarter as compared to the same period last year with increased support behind both brand and category development actions. At the same time, the company increased the investment behind delivering perceivably superior products to consumers.
Prabha Narasimhan, Managing Director & CEO of Colgate-Palmolive (India) Limited, said, “We are pleased with the robust, consistent topline performance in a tough operating environment. This has been led by broad-based growth across portfolios. Toothpaste achieved high-single digit volume growth on the back of our core brands- Colgate Maxfresh and Colgate Strong Teeth. Toothbrush continued to grow at double digits with rapid premiumisation. We expect continued difficult market conditions but remain committed to leverage our very strong P&L which allows us to continue to invest behind superior products and advertising while we maintain our focus on ensuring better oral health for everyone in India.”
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