Colgate-Palmolive shares hit record high on Q1 earnings; key details
Colgate-Palmolive shares zoomed 8% to Rs 2026.70 against the previous close of Rs 1883.80 on BSE. The stock has gained 32.34% since the beginning of this year and has risen 28.64% in a year.
- Jul 27, 2023,
- Updated Jul 27, 2023 3:03 PM IST
Shares of Colgate-Palmolive (India) Ltd hit their record high today after the firm reported a 31.5% rise in Q1 profit. Colgate-Palmolive stock zoomed 8% to Rs 2026.70 against the previous close of Rs 1883.80 on BSE. The FMCG stock opened higher at Rs 1937.05 today. The stock has gained 32.34% since the beginning of this year and has risen 28.64% in a year. In terms of technicals, the relative strength index (RSI) of Colgate-Palmolive stands at 75.6, signaling it's trading in the overbought territory. The stock has a beta of 0.4, indicating very low volatility in a year.
A total of 0.76 lakh shares of the firm changed hands amounting to a turnover of Rs 15.11 crore on BSE. The market cap of Colgate-Palmolive rose to Rs 54,754 crore. The stock fell to a 52-week low of Rs 1434.60 on January 30, 2023.
Consolidated net profit rose to Rs 273.7 crore in Q1 against Rs 209.7 crore reported during the corresponding quarter in the last fiscal year. Revenue of Colgate climbed to Rs 1,338.6 crore during the quarter ending June 2023 against Rs 1,208.3 crore in Q1FY23. The earnings per share of the company increased to Rs 10.6 in Q1FY24 from Rs 7.71 during the corresponding quarter of the last fiscal.
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 focused 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.”
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Shares of Colgate-Palmolive (India) Ltd hit their record high today after the firm reported a 31.5% rise in Q1 profit. Colgate-Palmolive stock zoomed 8% to Rs 2026.70 against the previous close of Rs 1883.80 on BSE. The FMCG stock opened higher at Rs 1937.05 today. The stock has gained 32.34% since the beginning of this year and has risen 28.64% in a year. In terms of technicals, the relative strength index (RSI) of Colgate-Palmolive stands at 75.6, signaling it's trading in the overbought territory. The stock has a beta of 0.4, indicating very low volatility in a year.
A total of 0.76 lakh shares of the firm changed hands amounting to a turnover of Rs 15.11 crore on BSE. The market cap of Colgate-Palmolive rose to Rs 54,754 crore. The stock fell to a 52-week low of Rs 1434.60 on January 30, 2023.
Consolidated net profit rose to Rs 273.7 crore in Q1 against Rs 209.7 crore reported during the corresponding quarter in the last fiscal year. Revenue of Colgate climbed to Rs 1,338.6 crore during the quarter ending June 2023 against Rs 1,208.3 crore in Q1FY23. The earnings per share of the company increased to Rs 10.6 in Q1FY24 from Rs 7.71 during the corresponding quarter of the last fiscal.
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 focused 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.”
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