Colgate-Palmolive (India) Ltd. reported a steady set of June-quarter earnings, with revenue surpassing Street estimates as strong demand for its oral care portfolio helped offset margin pressure from a volatile input cost environment.
The FMCG major posted a 7% year-on-year increase in net profit to Rs 343 crore, broadly in line with analysts' expectations of Rs 344 crore. Revenue rose 11.8% to Rs 1,603 crore, comfortably beating the Street estimate of Rs 1,565 crore.
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Colgate-Palmolive (India) Q1 Results - YoY
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- Net profit up 7% at Rs 343 crore vs Rs 321 crore YoY
- Revenue up 11.8% at Rs 1,603 crore vs Rs 1,434 crore YoY
- EBITDA up 6.7% at Rs 483 crore vs Rs 453 crore YoY
- EBITDA margin at 30.1% vs 31.6% YoY
Operating performance was also largely in line with expectations. EBITDA increased 6.7% year-on-year to Rs 483 crore, marginally above estimates of Rs 481 crore. However, the EBITDA margin narrowed to 30.1% from 31.6% a year ago, and was slightly below the Street expectation of 30.7%, indicating that operating leverage was partly offset by pricing and input-cost dynamics.
The company's oral care business remained the key growth driver during the quarter. Colgate said its toothpaste portfolio recorded high single-digit growth. Despite pressure on operating margins, the company reported a notable improvement in gross profitability. Gross margin expanded by 110 basis points year-on-year to 69.7%.
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