Colgate-Palmolive India Q2 profit up 22.3% to Rs 340 cr, sales up 6.09%

New Delhi: FMCG major Colgate-Palmolive India Ltd on Thursday reported a 22.31 per cent increase in net profit at Rs 340.05 crore for the second quarter ended on September 30, driven by pricing and efficiencies.

The company had posted a net profit of Rs 278.02 crore in the July-September quarter a year ago, Colgate-Palmolive India Ltd (CPIL) said in a regulatory filing.

Its sales were up 6.09 per cent to Rs 1,462.38 crore during the quarter under review, as against Rs 1,378.37 crore of the corresponding quarter a year ago.

CPIL's EBITDA margins "continue to improve, up 120 bps vs. sequential quarter and up 340 bps vs. prior year quarter driven by pricing and efficiencies," the company said.

Its total expenses were at Rs 1,034.29 crore in the September quarter of FY24.

The total income in the September quarter was at Rs 1,492.10 crore, up 6.67 per cent.

CPIL's domestic growth remains strong, registering a 6.6 per cent increase over the previous year's quarter, with the toothpaste segment witnessing higher single-digit growth, Colgate-Palmolive India Managing Director Prabha Narasimhan said.

"We continue to be happy with our momentum and continue to be focussed on strengthening our brand portfolio & delivering superior products to consumers. In this quarter we have doubled down on the Colgate Strong Teeth relaunch, expanding reach & availability," she added.

CPIL also informed that its board has declared a first interim dividend of Rs 22 per equity share of face value of Re 1 each for the financial year 2023-24.

Shares of Colgate-Palmolive India Ltd on Thursday settled at Rs 2,032.50 down 1.97 per cent from the previous close.