Colgate-Palmolive net falls 15%

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The phasing out of fiscal benefits hit oral care major Colgate-Palmolive, with net profit declining 15.3 per cent for the June quarter to Rs 114 crore. Net sales was sluggish, growing five per cent to Rs 1,003 crore as volume growth fell. For a company whose volume growth has traditionally hovered between eight and 10 per cent, the quarter's number was abysmal - only two per cent.