Colgate Palmolive (India) gains after strong Q2 earnings

Colgate Palmolive (India) rose 3.36% to Rs 1,772 at 11:54 IST on BSE after net profit rose 18.31% to Rs 129.58 crore on 10.58% rise in total income to Rs 1010.44 crore in Q2 September 2014 over Q2 September 2013.

The result was announced after market hours on Wednesday, 5 November 2014.

Meanwhile, the BSE Sensex was down 109.91 points, or 0.39%, to 27,805.97.

On BSE, so far 19,000 shares were traded in the counter, compared with an average volume of 29,990 shares in the past one quarter.

The stock hit a high of Rs 1,777.15 and a low of Rs 1,721.50 so far during the day. The stock hit a 52-week low of Rs 1,228 on 13 November 2013.

The stock had underperformed the market over the past one month till 5 November 2014, falling 0.82% compared with 5.07% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 11.05% as against Sensex's 7.75% rise.

The large-cap company has an equity capital of Rs 13.60 crore. Face value per share is Re 1.

Colgate-Palmolive (India) said it posted a strong volume growth of 7% for the quarter on toothpaste and continued to enhance its leadership position in toothpaste category by registering a volume market share of 56.7% for the period January 2014-September 2014, an increase of 80 basis points over the same period of the previous year.

The company further strengthened its leadership position in the toothbrush category by registering a volume market share of 42.6% for January 2014-September 2014, an increase of 110 basis points over the same period of the previous year, the company said.

The company said that its strong focus on driving efficiencies, reducing costs and innovating to drive premiumisation coupled with prudent price increases has led to a significant gross margin expansion by 290 basis points.

Colgate-Palmolive (India) is India's leading provider of scientifically proven oral care products with multiple benefits at various price points. The range includes toothpastes, toothpowder, toothbrushes and mouthwashes under the 'Colgate' brand, as well as a specialized range of dental therapies under the banner of Colgate Oral Pharmaceuticals. These have become an essential part of daily oral hygiene and therapeutic oral care in India. The Company also provides a range of personal care products under the 'Palmolive' brand name.

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