Mumbai: Oral and personal care company Colgate-Palmolive’s net profit fell 0.5% to Rs142.6 crore as volumes declined 3% on account of “soft pickup in the wholesale channel” in the March quarter, the company said in a stock exchange filing on Monday.
The company’s total income rose 2.3% year-on-year to Rs1,176.71 crore in the quarter ending 31 March.
A Bloomberg poll of 21 analysts had estimated sales of Rs1,129.4 crore and profit of Rs154.9 crore.
“In the fourth quarter, we saw encouraging signs of recovery from the liquidity crunch of the previous quarter,” Issam Bachaalani, managing director of Colgate-Palmolive, said. “We expect challenges while transitioning to the GST (goods and services tax) environment, including an impact on trade pipeline inventory.”
The company said it maintained a leadership position in the toothpaste and toothbrush categories with 55.1% and 47.4% market shares, respectively.