Colgate-Palmolive Q1 profit rises 17 pc to ₹198 crore1 min read . Updated: 29 Jul 2020, 02:43 PM IST
- 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.
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