Colgate Palmolive surges 6% on strong sales growth in December quarter

Given the sharp decline in commodity cost, gross margins expanded by 420 basis points

Shares of Colgate-Palmolive (India) moved higher by 6 per cent to Rs 1,660 on the BSE on Friday in an otherwise volatile market after the company reported a double-digit year on year (YoY) growth of 10.1 per cent in domestic sales for the quarter ended December 2020 (Q3FY21). The stock was trading close to its all-time high level of Rs 1,676, touched on January 11, 2021.

The company's reported net sales, including export, grew 7.8 per cent YoY at Rs 1,224 crore in Q3FY21. Net profit during the quarter under review, meanwhile, jumped 24.7 per cent at Rs 248 crore as