Colgate-Palmolive (India) jumps after Q1 results

Colgate-Palmolive (India) rose 4.78% to Rs 1,088.50 at 14:05 IST on BSE after net profit rose 8.48% to Rs 136.38 crore on 3.60% decline in net sales to Rs 969.43 crore in Q1 June 2017 over Q1 June 2016.

The result was announced during trading hours today, 3 August 2017.

Meanwhile, the S&P BSE Sensex was down 140.28 points, or 0.43% to 32,336.46.

On the BSE, 1.03 lakh shares were traded in the counter so far, compared with average daily volumes of 48,405 shares in the past one quarter. The stock had hit a high of Rs 1,099 and a low of Rs 1,028 so far during the day. The stock hit a record high of Rs 1,132.90 on 3 July 2017. The stock hit a 52-week low of Rs 861.90 on 27 December 2016.

The stock had underperformed the market over the past one month till 2 August 2017, falling 7.76% compared with 4.06% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 0.47% as against Sensex's 7.80% rise. The scrip had also underperformed the market in past one year, rising 10.72% as against Sensex's 17.26% rise.

The large-cap company has equity capital of Rs 27.20 crore. Face value per share is Re 1.

Colgate-Palmolive (India) said net sales decreased largely due to destocking in the trade channel ahead of the implementation of goods and services tax (GST). Volume declined 5% during the quarter.

The company said it continues to maintain its leadership position in both the toothpaste and toothbrush categories, with volume market shares at 54.3% and 45.0% respectively in Q1 June 2017.

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. The company also provides a range of personal care products under the 'Palmolive' brand name.

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