Mumbai: Colgate-Palmolive (India) Ltd on Friday said second-quarter net profit rose 16% to Rs181.31 crore from Rs156.85 crore a year ago, beating analysts’ expectations.
Revenue rose 10% to Rs 1,214.46 crore from Rs1,195.89 crore a year-ago.
A Bloomberg poll of 31 analysts had estimated net profit at Rs137.30 crore and net sales at Rs1016.70 crore.
“Despite of slowing market conditions, Colgate maintains its leadership position and continues to offer customised products for each market segment. We are focused on our priorities of strengthening the core of our business and drive competitive and profitable growth while staying committed to our sustainability initiatives,” said Issam Bachaalani, managing director, Colgate-Palmolive, in a statement.
On Friday, Colgate shares closed at Rs972.95 on BSE, up 3.64% from the previous close while India’s benchmark Sensex index rose 0.09% to close at 27,941.51 points.