Colgate-Palmolive dips 6% on disappointing Q3 nos; volume growth slips QoQ

Net profit after tax for the quarter grew 3.6 per cent to Rs 199 crore, as against a profit of Rs 192 crore in the year-ago quarter.

Shares of Colgate-Palmolive (India) dipped 6 per cent to Rs 1,392 on the BSE on Thursday after the company reported a disappointing volume growth of 2.3 per cent in the December quarter of FY20 (Q3FY20). The personal-care products' selling firm had posted an underlying volume growth of 4 per cent in the September quarter.

The stock was trading at its lowest level since September 20, 2019. With today’s fall, it has fallen 15 per cent from its 52-week high level of Rs 1,641, touched on November 8 last year.

The management said the current quarter continued to witness demand moderation and soft