Colgate-Palmolive India Q2 profit rises 24% to Rs 244 crore, net sales up 4.5%

FMCG major Colgate-Palmolive India Ltd (CPIL) on Thursday reported 24.31 per cent growth in its net profit at Rs 244.11 crore for the second quarter ended September 30, 2019. Excluding the impact of statutory tax rate change and prior year tax reversals in previous years, the net profit after tax declined by 7 per cent in the current fiscal, the company said.

"The company had posted net profit of Rs 196.37 crore in the same quarter last year," Colgate-Palmolive India said in a filing to the Bombay Stock Exchange.

The net sales of the consumer products company increased by 4.5 per cent to Rs 1,213.2 crore compared to Rs 1,160.63 crore in the corresponding quarter last year.

Also Read: IndiGo posts net loss of Rs 1,062 crore in Q2 due to high maintenance cost

The operating profit or EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization) stood at Rs 323.1 crore, while EBITDA margin was at 26.4 per cent.

Also Read: Maruti Suzuki Q2 profit skids 39% to Rs 1,358 crore, sales fall 25%

The company also declared the first interim dividend of Rs 12 per equity share of Rs 1 (face value) for the financial year 2019-20. The Record Date for the said interim dividend is November 06, 2019.

Following Q2 earnings, shares of Colgate-Palmolive India ended 0.29 per cent higher at Rs 1,564.80 apiece on the BSE.

Edited by Chitranjan Kumar