Colgate-Palmolive profit rises 3.3 pc to Rs 278 crore; sales up 2.56 pc at Rs 1,378 crore in Q2

New Delhi: FMCG major Colgate-Palmolive India Ltd on Thursday reported a 3.28 per cent rise in net profit at Rs 278.02 crore for the second quarter ended on September 30, 2022, helped by improved sales momentum.

The company had posted a net profit of Rs 269.17 crore in the July-September period a year ago, Colgate-Palmolive India Ltd (CPIL) said in a regulatory filing.

Its revenue from operations rose 2.56 per cent to Rs 1,378.37 crore during the quarter under review as against Rs 1,343.96 crore in the corresponding period a year ago.

CPIL's total expenses stood at Rs 1,024.62 crore, up 2.66 per cent in the second quarter of FY23, as against Rs 998.05 crore in the same period a year ago.

CPIL Managing Director Prabha Narasimhan said: "The current quarter has seen improved momentum versus prior quarters driven by the focused deployment of initiatives during the festive season." "We continue to remain cautiously optimistic on the overall growth trend, especially in rural, and are encouraged by the growth of modern trade and e-commerce businesses in the current quarter," she added.

While the macroeconomic environment stabilises, CPIL's "endeavour will be to deliver sustainable gross margins and continue to invest" in core, while driving premiumisation and category expansion into personal care, Narasimhan said.

Meanwhile, the board of the company in its meeting held on Thursday also declared a first interim dividend of Rs 18 per share of Re 1 each (face value) for the financial year 2022-23.

"The dividend payout to the shareholders will be Rs 489.6 crore," it added.

Shares of Colgate-Palmolive India Ltd closed at Rs 1,603.25 apiece on the BSE on Thursday, up 1.63 per cent from its previous close.