Colgate-Palmolive (India) gained 0.64% to Rs 1554.55 after the company's net profit jumped 24.7% to Rs 248.40 crore on a 7.8% rise in net sales to Rs 1,224.21 crore in Q3 FY21 over Q3 FY20.
Domestic net sales for the quarter reported a healthy 10.1% growth. Profit before tax in Q3 December 2020 stood at Rs 333.04 crore, up by 24.5% from Rs 267.43 crore in Q3 December 2019. Current tax outgo during the quarter rose by 25.9% year-on-year (YoY) to Rs 87.72 crore.
Ram Raghavan, managing director at Colgate-Palmolive (India), said, "We are very pleased with not only the continued momentum on the business but also the quality of the results across the P&L. Our strategic and disciplined approach to building brands, driving innovation & relentless focus on winning on the ground continues to deliver per our expectations. Particularly pleasing is the double digit sales growth (10.1%) we've delivered, striking the right balance between volume and pricing.
We continue to invest in our brands with higher advertising spends to support our innovations. Our continued efforts to amplify efficiencies across our operations have helped deliver strong gross margins, EBITDA and NPAT growth.
Colgate-Palmolive (India) is a provider of oral care products, which include toothpastes, toothpowder, mouthwash, toothbrushes and dental gel under the 'Colgate' brand. The company also provides personal care products with its range of shower gels and liquid hand washes under the Palmolive brand name.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
