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Colgate-Palmolive India Ltd posted a 2.16 per cent dip in its consolidated net profit for the quarter ended March 31 to ₹316 crore compared with ₹323 crore in the same quarter last year. Sequentially, the profit grew 30 per cent compared with ₹243 crore in Q3 FY23.
The company has also declared a second interim dividend of ₹21 per share. The dividend payout to the shareholders will be ₹571.17 crore and will be paid on or after June 8.
Also read: Cipla’s Q4 profit grows 45% to ₹536 crore
The total income grew 4.58 per cent to ₹1,370 crore (₹1,310 crore in Q4 FY22). Sequentially, it rose 5.30 per cent. The net sales were at ₹5,187.9 crore for the whole of FY23 with a 2.4 per cent increase over the previous year.
The company continued to witness stagnant demand in rural areas.
“We are happy with the sequential progress and outcomes of the quarter. The company has delivered domestic growth of 5.4 per cent with toothpaste delivering high single-digit growth despite continuing sluggish demand trends in the category, especially in rural. This has been driven by our strategy to increase consumption, innovation focussed on delivering high-quality science-led products and premiumisation. We remain fairly optimistic that the overall category growth will improve in the coming quarters,” said Prabha Narasimhan, MD & CEO.
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