Colgate net profit increases 3.3% to Rs 278 cr

NEW DELHI: FMCG major Colgate-Palmolive India on Thursday reported a 3.28% rise in net profit at Rs 278.02 crore for the second quarter of the financial year 2022-23, helped by improved sales momentum.

It had posted a net profit of Rs 269.17 crore in the July-September period a year ago, Colgate-Palmolive India (CPIL) said in a regulatory filing. Its revenue from operations rose 2.56% to Rs 1,378.37 crore during the quarter under review as against Rs 1,343.96 crore in the corresponding period a year ago.

CPIL’s total expenses stood at Rs 1,024.62 crore, up 2.66% in Q2FY23, as against Rs 998.05 crore in the same period a year ago. CPIL Managing Director Prabha Narasimhan said: “The current quarter has seen improved momentum versus prior quarters driven by the focused deployment of initiatives during the festive season.”     

 “We continue to remain cautiously optimistic on the overall growth trend, especially in rural, and are encouraged by the growth of modern trade and e-commerce businesses in the current quarter,” she added.