Colgate-Palmolive Q1 result: Profit falls 11% to ₹169 crore
1 min read . Updated: 18 Jul 2019, 02:05 PM IST- Total income during the quarter under review rose 4.71%
- Ram Raghavan appointed as the managing director of the company
Q1: New Delhi: FMCG major Colgate-Palmolive India Ltd (CPIL) on Thursday reported a 10.76% decline in net profit at ₹169.11 crore for the quarter ended 30 June 2019, owing to lower growth in rural markets.
The company had posted net profit of ₹189.51 crore in the April-June quarter last fiscal.
Its total income during the quarter under review stood at ₹1,100.03 crore, up 4.71% from ₹1,050.46 crore reported in the corresponding quarter a year ago, CPIL said in a BSE filing.
"The current quarter saw a moderation in demand impacted by lower than expected growth in the rural markets. We do consider this trend to be temporary and expect a pickup over the coming quarters," Colgate-Palmolive (India) Ltd Managing Director lssam Bachaalani said.
Bachaalani said despite the moderation, the company continues to "remain focussed on strengthening the core of our business and investing in our advertising and brand building activities".
In a separate filing, Colgate-Palmolive said its board of directors has appointed Ram Raghavan as Managing Director of the company with effect from 1 August 2019.
Most recently, Raghavan has served as Vice-President Marketing of Asia Pacific Division of Colgate-Palmolive.
Shares of Colgate-Palmolive were trading 3.04% higher at ₹1203.20 apiece on BSE.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
