Colgate-Palmolive shares settle nearly 5 pc high

New Delhi, Jul 30 (PTI) Shares of FMCG major Colgate-Palmolive India settled nearly 5 per cent higher on Tuesday after the company reported a 33 per cent rise in net profit to Rs 363.98 crore for the first quarter ended June 2024.

The stock of the company jumped 4.73 per cent to end at Rs 3,361.10 apiece on the BSE. Intra-day, the scrip of the company rose 6.75 per cent to hit its 52-week high of Rs 3,425.90 per piece.

At the end of the market close, the company's market valuation stood at Rs 91,417.09 crore.

On the volume front, 61,866 shares of the company were traded on the BSE during the day.

The 30-share BSE Sensex closed higher by 99.56 points or 0.12 per cent at 81,455.40 while NSE Nifty edged up 21.20 points to settle at 24,857.30.

On Monday, FMCG major Colgate-Palmolive India reported a 33 per cent rise in net profit at Rs 363.98 crore for the first quarter, helped by a demand pickup and good performance of products.

The oral hygiene product maker had posted a net profit of Rs 273.68 crore in April-June FY24, according to the regulatory filing.

Sales were up 13 per cent to Rs 1,485.76 crore during the quarter under review as against Rs 1,314.73 crore in the corresponding period a year ago, it added. PTI HG BAL BAL