You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Colgate Palmolive Q2 PAT rises 12% to Rs 274 cr

Capital Market 

Colgate-Palmolive (India) posted a 12.32% rise in net profit to Rs 274.19 crore in Q2 September 2020 from Rs 244.11 crore registered in Q2 September 2019.

Net sales stood at Rs 1,277.66 crore in Q2 September 2020, an increase of 5.3% over the same quarter of the previous year. Domestic net sales for the quarter grew 7.1%. Gross margins were up 340 basis points (bps) and EBITDA for the quarter was up 540 bps. The result was announced during market today, 21 October 2020.

Profit before tax (PBT) surged 32.3% to Rs 368.93 in Q2 September 2020 from Rs 278.77 crore in Q2 September 2019. Current tax expense rose 82.76% to Rs 94.56 crore in Q2 September 2020 over Q2 September 2019. Colgate said excluding the one time impact of tax rate change in the previous year, the net profit growth is 32%.

Commenting on the performance, Ram Raghavan, MD at Colgate-Palmolive (India) said, "We are very pleased with our performance as we continue to see momentum strengthening across the portfolio with domestic revenue growing at 7.1% this quarter. Our resilience and disciplined approach to managing all revenue and cost drivers, despite all the uncertainties and challenges around us drove improvements in key financial metrics with gross margins and EBITDA at 67.9% and 32% respectively.

All categories saw positive growth this quarter with Toothpaste continuing its accelerated performance, driven by strong brand fundamentals and household penetration. Our sharp focus aimed at fulfilling demand and ensuring uninterrupted access ensured agile and innovative approaches, specifically in our supply chain and distribution efforts."

Meanwhile, the company has declared an interim dividend of Rs 18 per equity share and the record date is on 2 November 2020.

Shares of Colgate-Palmolive were down 3.26% at Rs 1412.15 on BSE.

Colgate-Palmolive (India) is a provider of oral care products like toothpastes, toothpowder, mouthwash, toothbrushes and dental gel under the 'Colgate' brand.

Powered by Capital Market - Live News

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

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, October 21 2020. 14:41 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU