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Colgate-Palmolive India’s profit dips nearly 2% in September quarter

New Delhi: Packaged consumer goods company Colgate-Palmolive India on Monday reported a 1.8% drop in September quarter profit at ₹269.2 crore, the company said in its earnings release on Thursday.

The maker Colgate and Vedshakti toothpaste had reported a profit of Rs274.2 crore in the year ago period.

Net sales for the period grew by 5.2% over the same quarter of previous year to Rs. 1,344.0 crore for the quarter ended September.

Advertising and promotional spends were up 12.7% year-on-year, the company said.

The company that also sells personal care products with its range of shower gels and liquid hand washes under the Palmolive brand reported an 8.2% jump in net sales for the first half of the ongoing fiscal, it said. Net sales for the first six months of the year stood at ₹2,501.8 crore.

“Our overall growth momentum across our brands and categories has shown a consistent trajectory with good recovery on volume growth trends quarter on quarter,” said Ram Raghavan, managing director, Colgate-Palmolive (India) Ltd.

Overall penetration trends remain “strong” and “favourable” quarter-on-quarter, he said.

“Our commitment to invest behind our brands and innovation remains a critical driver. We see continued strengthening of our brands and recent innovations like Colgate Toothpaste for Diabetics, Vedshakti Mouthspray and the entire Gentle range of toothbrushes continue to gain traction with consumers across platforms. Our go-to-market approach continues to see the adoption of new business models and approaches as we look to bring our brands to life across platforms,” he added.

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