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Colgate-Palmolive (India) slips after muted Q4 performance

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Colgate-Palmolive (India) fell 3.60% to Rs 1303 after net profit rose 3.3% to Rs 204.2 crore on 7.4% decline in net sales to Rs 1,062.4 crore in Q4 March 2020 over Q4 March 2019.

The company said its net sales contracted on account of an 8% volume decline, mainly due to current COVID-19 situation.

Profit before tax (PBT) stood at Rs 234.36 crore in Q4 FY20, down by 15.4% from Rs 276.93 crore in Q4 FY19.

Current tax expenses in the fourth quarter declined by 60.8% to Rs 32.76 crore from Rs 83.59 crore reported in the corresponding period last year.

The company's net profit jumped 5.3% to Rs 816.5 crore on 1.2% increase in net sales to Rs 4,487.6 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19).

PBT stood at Rs 1,043.37 crore in FY20, down by 8.7% from Rs 1,142.56 crore in FY19.

Ram Raghavan, managing director at Colgate-Palmolive (India), said, "The lockdown did have an impact on our business, as seen in our results. Our immediate attention is channeled towards fulfilling the continued demand that we are seeing for our products."

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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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 21 2020. 14:35 IST