Colgate-Palmolive (India) Limited on Monday recorded its third quarter earnings with profit at Rs 330.11 crore, up 35.7 per cent in comparison to Rs 243.24 crore during the corresponding quarter of FY23, surpassing estimates. It posted revenue from operations at Rs 1395.65 crore, up 8.1 per cent as against Rs 1291.27 crore during the third quarter of FY23. According to a CNBC TV18 poll, Colgate-Palmolive (India) was expected to record Q3FY24 profit at Rs 300 crore and revenue was expected to be at Rs 1375 crore.
The company posted a net sales of Rs 1386 crore for the quarter ended December 21, 2023, recording an increase of 8.2 per cent in comparison to the previous year.
Prabha Narasimhan, Managing Director and CEO, Colgate-Palmolive (India) Limited, said, “In this quarter, we reaffirmed our commitment to advancing the nation’s oral health through ‘The Sweet Truth – Brush at Night’ campaign, reaching over 300 million people in urban India. With consumers at the core, our focus remains on strengthening the strategic pillars of driving superiority – in our products, communication, and overall experience. Colgate MaxFresh underwent a relaunch, introducing a new-to-world proprietary formula infused with unique cooling crystals to deliver a superior freshness experience which is winning with consumers ahead of our direct competition.”
“We are pleased with top line growth for the quarter supported by the strong performance of our core equities. Profitability indicators are on an upward trend and we continue to enhance the investment support behind our brands. Our current performance underscores the effectiveness of our strategy, focus on technology, securing the right talent, and efforts in governance and cost management. These initiatives have yielded consistent growth for the company, with our toothpaste segment achieving double-digit growth and positive volume expansion.