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Colgate-Palmolive (Mint)
Colgate-Palmolive (Mint)

Colgate-Palmolive Q1 profit rises 17 pc to 198 crore

  • Total expenses were at 780.01 crore in the first quarter of 2019-20 while company had posted a net profit of 169.11 crore in the April-June quarter
  • Larger growth in toothpaste sales has driven the profit of the company so far

NEW DELHI : FMCG major Colgate-Palmolive India Ltd (CPIL) on Wednesday reported a 17.18 per cent increase in net profit at 198.18 crore for the quarter ended June 30, 2020, helped by lower expenses.

The company had posted a net profit of 169.11 crore in the April-June quarter last fiscal.

Its total income during the quarter under review stood at 1,046.90 crore, down 4.82 per cent from 1,100.03 crore reported in the corresponding quarter a year ago, CPIL said in a BSE filing.

Its total expenses were at 780.01 crore in the first quarter of 2019-20, down 6.83 per cent, as against 837.22 crore reported in the corresponding period a year ago.

"Our toothpaste business delivered positive sales growth for the quarter reflecting the strengthening brand attributes and portfolio performance," CPIL Managing Director Ram Raghavan said

Brand penetration remained strong signalling the continued trust and faith consumers have with the brand, he said, adding that the toothbrush category, being more discretionary in nature, impacted overall results.

"Our disciplined approach to managing all revenue and cost drivers, despite all the uncertainties and challenges around us on account of the pandemic, drove improvements in key financial metrics," he said.

Shares of Colgate-Palmolive were trading 2.99 per cent higher at 1,433.15 apiece on BSE.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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