Colgate-Palmolive corrects after subdued Q3 numbers

Colgate-Palmolive (India) fell 3.92% to Rs 1427.2 after the company reported muted Q3 2019 numbers after during hours today, 30 January 2020.

On a standalone basis, net profit rose 3.64% to Rs 199.10 crore in Q3 December 2019 as against Rs 192.10 crore reported in Q3 December 2018. Excluding the impact of prior year tax reversals in previous year, the net profit after tax has increased by 9% in the current year.

The company reported net sales of Rs 1,136 crore for the quarter ended 31 December 2019, an increase of 4.1% over the same quarter of the previous year. The company reported volume growth of 2.3% for Q3 December 2019.

Profit before tax (PBT) for Q3 December 2019 stood at Rs 267.43 crore, down by 5.09% from Rs 281.77 crore reported in Q3 December 2018. Total tax expenses declined 23.8% to Rs 68.33 crore in Q3 FY20 from Rs 89.67 crore posted in Q3 FY19.

Commenting on company's Q3 performance, Ram Raghavan, Managing Director at Colgate-Palmolive (India), said, The current quarter continued to witness demand moderation and soft consumer sentiments. The Company reported a net sales growth of 4.1% despite category headwinds in both rural and urban. The re launch of our flagship brand, Colgate Strong Teeth continues to gain household penetration and our new Charcoal variant is also showing early traction with consumers in the markets/stores where we have launched."

Colgate-Palmolive (India) is engaged in the personal care and oral care business.

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