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Colgate net profit increases to Rs 62.5 crore

19-June-2001
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Colgate net profit increases to Rs 62.5 crore

Oral-care major Colgate-Palmolive has reported a 21 per cent increase in net profit to Rs 62.5 crores for 2000-01 compared with Rs 51.8 crores in the previous year. Net sales were up 8.01 per cent to Rs 1,176.9 crores against Rs 1,089.6 crores in 1999-00. The board has raised the dividend recommendation from 30 per cent to 35 per cent. The net profit has been aided by a 29 per cent higher other income, which rose to Rs 29.5 crores.

For the fourth quarter ended March 2001, the company's sales grew by 2.12 per cent to Rs 293 crores compared with Rs 287 crores in the corresponding period last year.

The company has increased its advertising expenditure from Rs 194 crores in 1999-2000 to Rs 214 crores in 2000-01.

During the year, cash generation from operations increased by 110 per cent over the previous year adding Rs 62 crores to the company's investible funds.

The company has undertaken a re-vitalization of its flagship brand, Colgate Dental Cream. It also launched Colgate Navigator toothbrush and Palmolive Naturals Transparent Soap, while Palmolive range of shave preparations was expanded and Palmolive Charmis Skin Cream repositioned with vitamins.

Its supply chain initiatives focused on cost reductions, improving operating efficiencies and enhancing the technical capability of key suppliers. These efforts resulted in a significant reduction in supply chain costs and in working capital, generating the funds for future growth.

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