Colgate-Palmolive Q3 net profit dips 4% to Rs 243 crore

NewsDrum Desk
24 Jan 2023
Colgate-Palmolive Q3 net profit dips 4% to Rs 243 crore

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New Delhi: Colgate-Palmolive (India) on Tuesday said its net profit declined by 4 per cent to Rs 243 crore in the third quarter that ended December 31, 2022.

The company had reported a net profit of Rs 252 crore in the October-December period of the previous fiscal.

Total income, however, increased to Rs 1,302 crore in the period under review as compared with Rs 1,286 crore in the year-ago period, Colgate-Palmolive (India) said in a regulatory filing.

Net profit for the nine months ended December 31, 2022 declined to Rs 731 crore as compared with Rs 755 crore in the year-ago period.

"The company is focussed on its key strategic pillars of building oral care habit in India, driving innovation and renovation through science-led products and premiumisation," Colgate-Palmolive (India) Managing Director Prabha Narasimhan said.

Although oral care consumption continued to be weighed down in the quarter by adverse macro factors, the company is cautiously optimistic going forward, she added.

"The focus remains to stay invested in our category and brand-building activities on key strategic pillars while delivering healthy EBITDA margins," Narasimhan said.

Shares of the company were trading 1.66 per cent down at Rs 1,465.40 apiece on the BSE.

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