FMCG major Colgate Palmolive India today reported 57.74 per cent increase in net profit at Rs 185.22 crore for the first quarter ended June 30, 2013, on account of 9 per cent volume growth during the period.
The company had posted a net profit of Rs 117.42 crore during the same period of previous fiscal.
Net sales of the company rose to Rs 844.62 crore for the fisrt quarter, as against Rs 736.08 crore during the same period of previous financial year, Colgate Palmolive (India)
Ltd said in a filing to the BSE.
"During the quarter, the company achieved a volume growth of 9 per cent over the same quarter of the previous year led by a strong growth of 11 per cent in its toothpaste category," it added.
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 Organisation, 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.