Fast moving consumer goods (FMCG) firm Colgate-Palmolive (India) Ltd on Monday posted a marginal increase of 3.6% in its net profit to ₹199.10 crore on the back of moderate sales during the quarter.
However, volume growth of the company which makes household care to personal products, slipped to 2.3% as against 4% seen in the September quarter.
During the reporting quarter, Colgate-Palmolive’s revenue stood at ₹1132.6 crore, up 4.1% over the same quarter of the previous year.
“The current quarter continued to witness demand moderation and soft consumer sentiments. The Company reported a net sales growth of 4.1% despite category headwinds in both rural and urban," said Ram Raghavan, Managing Director at Colgate-Palmolive (India) Ltd in a statement.
The company said the relaunch of its flagship brand, Colgate Strong Teeth has helped gain household penetration and its new Charcoal variant has seeing early traction with consumers in the markets where it has been launched.
For the nine months ended ended December 31, 2019, net sales recorded at Rs. 3,425.2 crore, an increase of 4.2% over the same period of the prior year. Net Profit for the same period stood at ₹612.3 crore, up 5.9% from the corresponding quarter previous financial year.
Shares of Colgate-Palmolive was down 6.04% at ₹1395.75 per share while Sensex was at 40,913.82, down 0.69% from the previous close.