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Oral care major Colgate-Palmolive India’s net profit declined 6 per cent at Rs 123 crore in the fourth quarter ending March 31, 2013, against Rs 130 crore in the year ago period.
Net sales for the quarter were, however, up by 18 per cent at Rs 811 crore (Rs 716 crore), the company said, attributing this to the 12 per cent volume growth during the quarter.
According to Gautam Sinha Roy, VP (Equities), Motilal Oswal Securities, the company’s profit has declined because of increased advertisement and promotional spends.
The company has declared a third interim dividend of Rs 122.4 crore (Rs 9 per share) for the financial year 2012-2013.
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