Colgate reports decent Q2 FY23 numbers

Colgate-Palmolive (India) reported 3.29% increase in net profit to Rs 278.02 crore on 2.56% rise in revenue from operation to Rs 1,378.37 crore in Q2 FY23 over Q2 FY22.

Profit before tax stood at Rs 374.14 crore in Q2 FY23, up 3.67% from Rs 360.88 crore in Q2 FY22.

Total expenses rose 2.66% to Rs 1,024.62 crore in Q2 FY23 over Q2 FY22. During the quarter, cost of raw materials consumed jumped 15.10% to Rs 406.24 crore while employee benefits expense declined 9.7% to Rs 94.53 crore.

Prabha Narasimhan, managing director at Colgate-Palmolive (India) said, The current quarter has seen improved momentum versus prior quarters driven by focused deployment of initiatives during the festive season. We continue to remain cautiously optimistic on the overall growth trend, especially in rural, and are encouraged by the growth of modern trade and e-commerce businesses in the current quarter.

Our core brands like Colgate Strong Teeth, Colgate MaxFresh and Colgate Active Salt continue to report healthy growth. The breakthrough technology of Visible White O2, has delivered a very strong performance across quarters since launch. Our innovation pipeline continues to be robust - with the launch of MaxFresh Charcoal in this quarter, combined with continued impetus on Palmolive Face wash and Electric toothbrushes.

While the macro economic environment stabilizes, our endeavor will be to deliver sustainable gross margins and continue to invest in our core while driving premiumisation and category expansion into personal care. We continue our focus on delivering innovation led profitable growth and value to our consumers and shareholders.

Meanwhile, the company's board declared a first interim dividend of Rs 18 per equity share for the financial year 2022-23. The dividend will be paid on and from 16 November 2022 to those shareholders whose names are on the Register of Members of the company as on 1 November 2022.

Colgate-Palmolive (India) provides oral care products under the 'Colgate' brand. It also provides personal care products under the 'Palmolive' brand name.

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