FMCG major Colgate-Palmolive India today posted a 16 per cent increase in net profit at Rs 130.86 crore for the third quarter ended December 31, 2014. The company had reported a net profit of Rs 112.83 crore for the October-December period of the previous fiscal. Net sales of the company rose to Rs 988.56 crore for the third quarter, up 11.83 per cent as compared to Rs 883.98 crore during the same period of the previous financial year, Colgate-Palmolive India said in a filing to the BSE. "The company's strong focus on driving efficiencies, reducing costs and innovating to drive premiumisation coupled with prudent price increase have led to a significant gross margin expansion by 230 basis points," the company said in a statement. The company posted a volume growth of 5 per cent for the quarter on toothpaste and continued to enhance its leadership position in toothpaste category by registering a market share of 56.7 per cent in 2014, an increase of 0.8 per cent over the same period of the previous year, the statement said. The flagship brands 'Colgate Dental Cream', 'Active Salt', 'Max Fresh' and 'Colgate Total' along with 'Visible White' have contributed to this growth. The company said it has also strengthened its leadership position in the toothbrush category by registering a volume market share of 42.4 per cent in 2014, an increase of 0.8 per cent over the same period of the previous year. Colgate-Palmolive has a presence in oral and professional oral care, personal and home care segments. Shares of the company were trading at Rs 1,913.80 per scrip on the BSE, down 0.42 per cent from previous close.