Colgate-Palmolive India Ltd.'s quarterly profit rose in line with estimates.
Net profit of the toothpaste maker rose 2% over the previous year to Rs 252.33 crore in the quarter ended December, according to its exchange filing. That compares with the Rs 253.14-crore consensus estimate of analysts tracked by Bloomberg. Sequentially, however, profit fell 6%.
Its revenue increased 4% year-on-year but declined 5.4% over the preceding quarter to Rs 1,271.3 crore, as against a forecast of Rs 1,291.08 crore.
Q3 FY22 Highlights (YoY)
Operating profit was up 3% to Rs 371.09 crore, against a forecast of Rs 372.85 crore.
Margin stood at 29.2% against 29.6%.
Total expenses rose 4% to Rs 945 crore.
Cost of materials consumed rose 6.4%.
“Despite the macro challenges, our growth remains strong, consistent and driving the right balance between volume and revenue growth,” said Ram Raghavan, managing director at Colgate-Palmolive India. “Brand penetration strengthening reflects continued consumer trust.”
During the quarter, the company launched Colgate Gum Expert, an advanced toothpaste that has curcumin extract from turmeric. It has also forayed into face cleansing with its new Palmolive range of products. It also launched Colgate RecyClean—a toothbrush with bristles made from 100% recycled plastic—this quarter.
Shares of Colgate-Palmolive were trading 1.78% down after the results were announced compared with a 0.7% fall in the benchmark Nifty 50.
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