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FMCG major Colgate-Palmolive India Ltd posted a 3.57 per cent dip in consolidated net profit for the quarter that ended in December.
The company clocked ₹243 crore net profit during the quarter against ₹252 crore in the same quarter last year. Further the net profit dipped by 12.5 per cent compared with ₹278 crore profit for the quarter that ended in September.
The revenue from operations for the company grew 1.24 per cent to ₹1,301 crore during the reporting period in December as against ₹1,285 during the same quarter last year. Revenue from operations dipped by 6.93 per cent against the September quarter at ₹1,398 crore.
The company stated that a 0.8 per cent growth was registered in December over the same quarter in the previous year. Meanwhile the domestic sales growth stood at 2.3 per cent.
“Although oral care consumption continued to be weighed down in the quarter by adverse macro factors, we are cautiously optimistic going forward. The focus remains to stay invested in our category and brand build activities on key strategic pillars while delivering healthy EBITDA margins. We continue to build positive momentum in driving premiumisation across categories led by modern trade and e-commerce channels. The company is focused on its key strategic pillars of building oral care habit in India, driving innovation and renovation through science-led products and premiumisation. In this quarter, we have partnered with the Andhra Pradesh government to kick-off the Oral Health awareness program of ‘Bright Smiles Bright Futures’,” said Prabha Narasimhan, Managing Director at Colgate-Palmolive (India) Ltd.
“Colgate remains focused on the low growth oral care segment across price points, which we believe will curtail overall growth. We see limited focus on high growth personal care which has much higher penetration opportunities. We estimate 7.7 per cent sales and 10.6 per cent PAT CAGR over FY23-25 assuming 4.7 per cent decline in FY23 EPS. Revival in rural demand and new launches in personal care hold key to valuations.,” said Amnish Aggarwal, Head of Research, Prabhudas Lilladher Pvt Ltd
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