Colgate reports 5% increase in Net Profit for Q1 FY20
With an increase of 4%, net sales stood at Rs. 1075.9 crore for the first quarter of the financial year 2019-20
Colgate-Palmolive (India) Limited has reported Net Sales of Rs. 1075.9 crore for the first quarter of the financial year 2019-20, an increase of 4% over the same quarter of the previous year led by a domestic Net Sales growth of 6%. Reported Net Profit after tax for the quarter was Rs. 169.1 crore as against the Net Profit of Rs. 189.5 crore for the same quarter of the previous year. Excluding the impact of the exceptional item for the previous year, the Net Profit after tax increased by 5% in the current year.
Issam Bachaalani, Managing Director at Colgate-Palmolive (India) Ltd, said, “The current quarter saw a moderation in demand impacted by lower than expected growth in the rural markets. We do consider this trend to be temporary and expect a pickup over the coming quarters. Despite the moderation, we continue to remain focussed on strengthening the core of our business and investing in our advertising and brand building activities. Our Company in the current quarter reported a domestic sales growth of 6% led by volume growth of 4%. Our EBDITA margins have been higher by 70 bps and Net Profit after tax (excluding the impact of an exceptional item) is higher by 5%.
Under our Keep India Smiling mission to continue to impact a positive change in people’s lives, we recently launched Colgate’s Keep India Smiling Foundational Scholarship. The Scholarship program in partnership with Shiksha Daan Foundation, offers financial support and mentorship to people across India in fields of education, sports and community betterment, to help them translate their dreams into reality. We continue to strive to build a future that everyone can smile about.”
Most Trusted Brand: Colgate was ranked as India’s Most Trusted Oral Hygiene brand in 2019, for the 9th consecutive year, as per TRA’S Brand Trust Report for India, a consumer survey conducted among the country’s top 1000 brands.
Keep India Smiling Foundational Scholarship: Adding to these flagship programs, we recently launched the Keep India Smiling Foundational Scholarship, to offer financial support and mentorship to people from less privileged background across India to help them translate their dreams into reality. Launched in partnership with ShikshaDaan Foundation, a non-profit organisation that specialises in providing education and development to the underprivileged and Buddy 4Study as technology partners, this is a distinct, national program which offers scholarships and mentorships across the fields of education, sports and community betterment. Interested candidates can apply online at Keep India Smiling website www.colgate.com/keepindiasmiling.
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