Colgate-Palmolive (India) slips after Q2 results

Colgate-Palmolive (India) fell 0.32% to Rs 1,559.80 after net profit rose 24.3% to Rs 244.11 crore on 4.5% rise in net sales to Rs 1,213.21 crore in Q2 September 2019 over Q2 September 2018.

The announcement was made after trading hours yesterday, 24 October 2019.

The firm continued its strong investments in advertising and brand building activities throughout the quarter.

Ram Raghavan, the managing director of Colgate-Palmolive (India), said "Despite category headwinds in the current quarter, especially in rural and liquidity challenges in the market, we have reported a domestic net sales growth of 5% that is in line with our expectations. We continue to remain focussed on driving innovation in the market, investing behind our brands through advertising and brand building activities and strengthening our distribution infrastructure in the market."

 

Meanwhile, the S&P BSE Sensex was up 46 points or 0.12% to 39,066.33.

On the BSE, 5,384 shares were traded in the counter so far compared with average daily volumes of 38,053 shares in the past two weeks. The stock hit an intraday high of Rs 1,575 and an intraday low of Rs 1,540.05 so far during the day.

The stock hit a 52-week high of Rs 1,587.70 on 23 September 2019. The stock hit a 52-week low of Rs 1,086.50 on 29 October 2018.

The Board of Directors have considered, approved and declared the first interim dividend for the Financial Year 2019-20 of Rs 12 per share (i.e. 1200% dividend). The dividend payout to the existing shareholders will tantamount to Rs 393.50 crore (inclusive of the dividend distribution tax of Rs 67.1 crore) and will be paid on and from Friday, 15 November 2019 to those shareholders whose names are on the Register of Members of the Company. The record date for the payment of interim dividend is on Wednesday, 6 November 2019. The current dividend yield stands at around 0.77%.

Colgate-Palmolive (India) is engaged in the personal care and oral care business.

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