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Colgate-Palmolive (India) gains after Q1 PAT rises 17%

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Colgate-Palmolive (India) rose 1.88% to Rs 1,417.75 after net profit jumped 17.18% to Rs 198.18 crore on 3.93% decrease in revenue from operations to Rs 1,033.60 crore in Q1 June 2020 over Q1 June 2019.

Standalone profit before tax (PBT) rose 1.55% to Rs 266.89 crore in Q1 June 2020 as against Rs 262.81 crore in Q1 June 2019. Current tax expense for the quarter dropped 20.34% at Rs 74.33 crore as against Rs 93.31 crore in Q1 June 2019. The result was announced during trading hours today, 29 July 2020.

The company's gross margins grew by 30 bps while EBITDA for the quarter was up 190 bps. The company launched Palmolive hand sanitizer in April. It also launched a brand new range of toothbrushes, Colgate Gentle.

Ram Raghavan, the managing director (MD) of Colgate-Palmolive (India), commented: "Despite a challenging start to the quarter, we are pleased with the results and pace of growth as the quarter progressed. Our toothpaste business delivered positive sales growth for the quarter reflecting the strengthening brand attributes and portfolio performance. Brand penetration remained strong signaling the continued trust and faith consumers have with our brand. The toothbrush category, being more discretionary in nature, did impact our overall results."

"Our sharp focus aimed at fulfilling demand and ensuring uninterrupted access ensured agile and innovative approaches, specifically in our Supply Chain and Distribution efforts. Our disciplined approach to managing all revenue and cost drivers, despite all the uncertainties and challenges around us on account of the pandemic, drove improvements in key financial metrics with gross margins and EBITDA at 65.9% and 29.8% respectively. As an organisation we continue to live our values and remain focused on the health and well being of our consumers, customers, business partners and employees - that remains our key priority," he added.

Colgate-Palmolive (India) manufactures consumer products in the oral care and body care area. The company's products include soaps, cosmetics, toilet preparations, toothpaste, toothbrushes, shaving brushes, and glycerin.

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First Published: Wed, July 29 2020. 13:38 IST