Colgate-Palmolive Q1 profit rises 17 per cent to Rs 198 crore

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FMCG major Colgate-Palmolive India Ltd (CPIL) on Wednesday reported a 17.18 per cent increase in net profit at Rs 198.18 crore for the quarter ended June 30, 2020, helped by lower expenses. The company had posted a net profit of Rs 169.11 crore in the April-June quarter last fiscal.

Its total income during the quarter under review stood at Rs 1,046.90 crore, down 4.82 per cent from Rs 1,100.03 crore reported in the corresponding quarter a year ago, CPIL said in a BSE filing.

Its total expenses were at Rs 780.01 crore in the first quarter of 2019-20, down 6.83 per cent, as against Rs 837.22 crore reported in the corresponding period a year ago.

"Our toothpaste business delivered positive sales growth for the quarter reflecting the strengthening brand attributes and portfolio performance,” CPIL Managing Director Ram Raghavan said

Brand penetration remained strong signalling the continued trust and faith consumers have with the brand, he said, adding that the toothbrush category, being more discretionary in nature, impacted overall results.

"Our disciplined approach to managing all revenue and cost drivers, despite all the uncertainties and challenges around us on account of the pandemic, drove improvements in key financial metrics," he said.

Shares of Colgate-Palmolive were trading 2.99 per cent higher at Rs 1,433.15 apiece on BSE.