Earnings Review
Colgate India Jul-Sept PAT growth lowest in six quarters
This story was originally published at 15:38 IST on 24 October 2024
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--Colgate India Jul-Sept net profit INR 3.95 bln
--Analysts saw Colgate India Jul-Sept net profit INR 4.03 bln
--Colgate India to pay INR 24 per share interim dividend
--Colgate India Jul-Sept net profit INR 3.95 bln vs INR 3.40 bln year ago
--Colgate India Jul-Sept cost of materials INR 4.46 bln vs INR 3.70 bln
--Colgate India Jul-Sept revenue INR 16.19 bln vs INR 14.71 bln year ago
--Colgate India Jul-Sept advertising expense INR 2.43 bln vs INR 2.06 bln
--Colgate India Apr-Sept net profit INR 7.59 bln vs INR 6.14 bln year ago
--Colgate India Jul-Sept employee benefits cost INR 1.18 bln vs INR 1.06 bln
--Colgate India Apr-Sept revenue INR 31.16 bln vs INR 27.95 bln year ago
--Colgate India Jul-Sept domestic revenue grew by 10.5% on year
--Colgate India sees 'continued difficult market conditions'
--Colgate India: Toothpaste volume grew in high single digit in Jul-Sept
By Steffy Maria Paul
MUMBAI – Dental care major Colgate Palmolive (India) Ltd.'s financial results for the September quarter fell short of the Street's estimates. Colgate India reported a net profit of INR 3.95 billion, up 16.2% from INR 3.4 billion in the year-ago quarter but slightly lower than the INR 4.03 billion expected by analysts. This is the lowest growth in net profit for Colgate India in the last six quarters, after its bottom line fell 2% in Jan-Mar 2023.
The company reported a revenue of INR 16.2 billion for the quarter, up 10.06% from INR 14.7 billion a year ago, its highest ever quarterly revenue, Colgate India said. The Street had estimated the company would post revenues of INR 16.41 billion for the latest quarter. Sequentially, Colgate India's net profit grew 8.5% while its revenue rose 9%.
For Apr-Sept, the company reported a net profit of INR 7.6 billion, up 23.7% from INR 6.1 billion a year ago. For the half-year, the company reported revenues of INR 31.16 billion, up 11.5% from INR 27.95 billion a year ago.
Colgate India reported other income of INR 759.8 million for the quarter, up 261.64% from INR 210.1 million a year ago. This includes a one-off credit of INR 564.6 million of interest on income tax refunds received during the quarter, the company said. The raw material cost for the company for the quarter was INR 4.5 billion, up 20.5% from INR 3.7 billion a year ago. The advertising expense of the company for the quarter was INR 2.4 billion, up 17.8% from INR 2.1 billion a year ago.
The company's finance cost for the quarter was INR 11.5 million, up 9.5% from INR 10.5 million a year ago. The company's employee benefits cost for the quarter INR 1.2 billion, up 11.4% from INR 1.1 billion a year ago. The company's total expense for the quarter was INR 11.65 billion, up 12.6% from INR 10.34 billion a year ago.
Colgate India said it will pay a first interim dividend of INR 24 per share and has set Nov. 4 as the record date for the dividend. The total dividend payout to the shareholders will be INR 6.53 billion, Colgate India said. More
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