Colgate-Palmolive (India) has retained its leadership in the oral care segment with Colgate toothpaste and toothbrush maintaining a market share of 55.7% and 46.2%, respectively, for the quarter ended March 2016.
“Long-term growth potential for oral care products remains positive and is anticipated to drive progression in the next five years,” said Issam Bachaalani, managing director of the company.
In spite of this significant market share, the company on Tuesday reported a decline of 10.84% in its net profit at Rs 145.89 crore.
Net sales for the quarter ending March 2016 were up 6.76% at Rs 1,091.11 crore. The company reported a volume growth of 6%, including exports and the domestic volume growth was recorded at 4%.
“We strongly believe in developing innovative new products which is a key driver of the company’s long term sustainable growth,” said Bachaalani.
Meanwhile, the company’s Ebitda was down 2.53% at Rs 241.2 crore.
Colgate ended 2015-16 with net sales of Rs 4,132.16 crore, up 4% and net profit of Rs 576.51 crore, up 3.13%. Colgate-Palmolive (India) share on Tuesday closed 2.95% up at Rs 835.30 on BSE.