Colgate Palmolive reports muted sales growth in Q3

Colgate Palmolive India on Thursday reported net sales of Rs 1,136 crore for the quarter ended December 31, marking an increase of 4.1 per cent over the same quarter of the previous year with volume growth at 2.3 per cent.

The net profit after tax was Rs 199 crore as against Rs 192 crore in Q3 FY19. Excluding the impact of prior year tax reversals in previous year, the net profit after tax increased by 9 per cent in Q3 FY20.

"The current quarter continued to witness demand moderation and soft consumer sentiments," said Managing Director Ram Raghavan. "The company reported a net sales growth of 4.1 per cent despite category headwinds in both rural and urban," he said in a statement.

Net sales for the nine months ended December 31 were recorded at Rs 3,425 crore, an increase of 4.2 per cent over the same period of the prior year.

Domestic net sales growth for M9 FY20 reported at 5 per cent growth while the net profit was Rs 612 crore.