Colgate-Palmolive Q2 profit jumps 10% to Rs 1.96 bn; net sales up 7%

Total expenses were at Rs 8.78 bn as against Rs 8.23 bn in the year-ago period, up 6.69%

FMCG major Colgate-Palmolive India Ltd (CPIL) Monday reported 10.58 per cent rise in net profit at Rs 1.96 billion for the quarter ended September 30, 2018.

The company had posted a net profit of Rs 1.77 billion in the July-September quarter last year, CPIL said in a BSE filing.

Net sales during the quarter under review were up 7.66 per cent to Rs 11.61 billion as against Rs 10.78 billion in the year-ago period.

"Our aggressive efforts in the market have brought about an upswing in the overall growth momentum resulting in a volume growth of 7 per cent, in the second quarter," CPIL MD Issam Bachaalani said.

Total expenses were at Rs 8.78 billion as against Rs 8.23 billion, up 6.69 per cent.

"Understanding the shift of preference that consumers are exhibiting towards e-commerce, we continue to invest ahead of the growth curve with the objective of being market leaders online as well in addition to traditional stores," Bachaalani added.

The company declared first interim dividend of Rs 8 per equity share of a rupee for 2018-19, the company said in a separate filing.

CPIL stock was trading at Rs 1,103, down 0.26 per cent from the previous close on BSE.