More Stories

Informist, Thursday, Oct. 24, 2024

 

Please click here to read all liners published on this story

--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.

 

The company's domestic revenue grew by 10.5% during the quarter, Colgate India said. Colgate India said all segments of its portfolio posted strong growth during the quarter, with its toothpaste segment, which houses brands such as Colgate Maxfresh and Colgate Strong Teeth, seeing high single-digit volume growth during the quarter. The company said it saw a good response to 'Colgate Visible White Purple', toothpaste brand it had launched during the quarter.

 

The company's toothbrush segment continued to grow in double digits with rapid premiumisation, Colgate India said. The company said its spending on advertising was higher due to the company's increased support for brand and category development initiatives. "We expect continued difficult market conditions," Prabha Narasimhan, managing director and chief executive officer of Colgate India, said in a pres release. However, the company will continue to invest in superior products and advertising, she said. 

 

At 1444 IST, shares of Colgate India traded at INR 3,228.25 on the National Stock Exchange, down 3%.  End 

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Akul Nishant Akhoury

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2024. All rights reserved.