Colgate-Palmolive (India) Announces Results for the Quarter Ended June 30, 2023
- Double Digit Net Sales growth @ 10.8%
- Domestic Net Sales Growth @ 12.3%
- NPAT Growth @ 30.5%
- Continue to invest in our brand building activities
MUMBAI, India, July 27, 2023 /PRNewswire/ — Q1 2023-24: Colgate-Palmolive (India) Limited today reported Net Sales growth of 10.8% over the same quarter of previous year aggregating to Rs. 1314.7 crore for the quarter ended June 30, 2023. Reported Net profit after tax for the quarter was Rs. 273.7 crore, a growth of 30.5% as against the Net Profit of Rs. 209.7 crore for the same quarter of the previous year. Excluding the impact of exceptional items, the Net Profit growth reported was 33%.
Ms. Prabha Narasimhan, Managing Director & CEO of Colgate-Palmolive (India) Limited, said, “We are pleased with the results for the quarter that saw strong quarter-on-quarter sales growth and improvement across profitability ratios. This has been driven by good execution against our strategy focussed on growing the oral care category. While the domestic sales grew at 12.3% compared to the same quarter of last year, toothpaste sales recorded a high double digits growth. We are also seeing early signs of recovery in rural markets and remain optimistic about continued improvement.
In pursuit of our commitment to improve oral health in India and to grow the Oral Care category, we continue to deliver superior products to the markets. In line with this commitment, our flagship brand Colgate Strong Teeth was re-launched with an improved formula and new communication. The product fortified with the best in class technology in cavity protection (Arginine) and the campaign amplifying the product benefit which talks of Tooth Nourishment giving 2X stronger teeth, received a heartening response. In this quarter we also launched Colgate India’s first ever Whitening pen with our Dentist partners – this pen is a revolutionary new at-home whitening system.”
In this quarter, Colgate-Palmolive published its Annual and ESG Report 2022-23 which included the 2nd edition of its ESG report. It can be accessed at the Company’s Investor website. (http://www.colgateinvestors.co.in/). The report details the Company’s commitment to and the progress made on all the areas of Environment, Sustainability, Corporate Social Responsibility & Governance.
ABOUT COLGATE-PALMOLIVE (INDIA) LIMITED
Colgate-Palmolive (India) Limited is the market leader in Oral Care in the country, that seeks to deliver sustainable, profitable growth and maximize shareholder returns and to provide its people with an innovative and inclusive work environment. The organization has adopted sustainability, diversity, equity, inclusion, and social responsibility strategies that help make people’s lives healthier and more enjoyable. The company manufactures and markets toothpastes, toothpowder, toothbrushes, and mouthwashes under the ‘Colgate’ brand, and a specialized range of personal care products under the ‘Palmolive’ brand. It is a caring, innovative growth-oriented company, reimagining a healthier future for all people and our planet. Colgate has been ranked as India’s #1 Most Trusted Oral Care Brand for eleven consecutive years, from 2011 to 2021, by The Economic Times – Brand Equity – Most Trusted Brands Survey and CNBC TV18. For more information about Colgate’s business and products, visit: www.colgatepalmolive.co.in
Contact: Niharika Kulkarni, Phone No: 9969849844, Email: [email protected]
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