Colgate Palmolive India reported a 58 per cent increase in net profit in the April to June quarter on account of strong volume growth. Net profit rose to Rs 185 crore against Rs 117 crore during the same period of previous fiscal, the FMCG major said.
Net sales rose to Rs 845 crore against Rs 736 crore during the same period of previous financial year, Colgate Palmolive (India) said in a filing to the BSE. Colgate said sales volume grew at 9 per cent during the period led by a strong growth of 11 per cent in its toothpaste category.
The company said it enhanced its leadership position by registering a 55.9 per cent volume market share for January- June 2013 period, compared to 54.7 per cent in Jan-June 2012.
The flagship brands Colgate Dental Cream, Active Salt, Max Fresh and Colgate Total contributed to this consistent growth, the company said.
"Despite the inflationary environment and pressure on the rupee, the company's focus on driving efficiencies and reducing costs has resulted in higher gross margin," it added.
During the quarter, the FMCG firm sold its division--- Global Shared Services Organization, to Colgate Global Business Services Pvt Ltd, a subsidiary of Colgate-Palmolive
Company USA, for Rs 55.5 crore.
Shares of Colgate Palmolive India were trading at Rs 1,403.30 a piece on the BSE in afternoon trade, down 2.54 per cent from their previous close.
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