Colgate-Palmolive India Q3 results: Net profit down 2.2% to Rs 322.8 cr

FMCG major Colgate-Palmolive India Ltd on Tuesday reported a 2.22 per cent decline in its net profit to Rs 322.78 crore for the third quarter ended December 2024 on account of soft demand in the urban market and a high base of the previous year.

It had posted a net profit of Rs 330.11 crore in the October-December quarter a year ago, according to a regulatory filing from the oral hygiene product maker Colgate-Palmolive India Ltd (CPIL).

Its sales were up 4.74 per cent to Rs 1,452.21 crore during the quarter under review compared to Rs 1,386.41 crore in the corresponding period a year ago.

"Gross margin & Ebitda (Earnings Before Interest, Taxes, Depreciation, and Amortisation) margin show sequential improvement over the previous quarter, while down from last year's high base," said CPIL in its earning statement. 

Total expenses of CPIL in the December quarter were up 8.2 per cent to Rs 1,049.72 crore.

CPIL's total income, including other income, was Rs 1,482.24 crore, up 4.86 per cent in the December quarter.

Commenting on the results, MD & CEO Prabha Narasimhan said: "This has been a quarter of relatively soft demand, particularly in the urban market."  "In these market conditions and a heightened competitive landscape, we delivered a resilient performance this quarter with Toothpaste reporting mid-single-digit intrinsic volume growth and continued competitive growth on toothbrushes," she said.

CPIL continue to see positive momentum in its premium portfolio, she added.

"While the near-term macro environment continues to look challenging, we are committed to driving growth through focus on a strategy that is working," Narasimhan added.

Shares of Colgate-Palmolive India Ltd on Tuesday settled at Rs 2,674.35 on BSE, down 1.26 per cent.