Colgate-Palmolive Q2 results: Net profit rises 22%; board declares interim dividend 

Colgate-Palmolive India Ltd reported a 22% rise in profit for the quarter ended September 2023. Net profit rose to Rs 340 crore in Q2 against a net profit of Rs 278.02 crore in September 2022 quarter. Colgate-Palmolive India's total revenue stood at Rs 1462.38 crore in Q2, up 6.09% against Rs  1378.37 crore in the corresponding period of the preceding fiscal.

Profit before tax climbed 22.36 percent to Rs 457.81 crore in the second quarter of this fiscal over Rs 374.14 crore in the corresponding period in the previous fiscal. Earnings per share of Colgate-Palmolive rose to Rs 12.50 in Q2 of this fiscal against Rs 10.22 in the September 2022 quarter.

EBITDA margins continued to rise, up 120 bps on a sequential basis and up 340 bps on year on year basis, driven by pricing and efficiencies.

The board declared a first interim dividend of Rs 22 per equity share of face value of Re. 1/-each for the financial year 2023-24. The total dividend payout to the shareholders will be Rs 598.4 crore and will be paid on and from November 21, 2023 to those shareholders whose names appear in the Register of Members/Beneficial Owners of the Company as on November 6, 2023.

In the first half of this fiscal, the company clocked a 8.3% rise in net sales to Rs 2,777.1 crore compared to Rs 2,564.9 crore for the same period in the previous year.

Net profit zoomed 25.8% to Rs 613.7 crore in the first half of this fiscal.

The earnings were announced after market hours today. Shares of Colgate-Palmolive (India) closed 1.56% lower at Rs 2040.95 against the previous close of Rs 2073.30 on BSE. Market cap of the firm fell to Rs 55,510.91 crore.

Prabha Narasimhan, Managing Director & CEO of Colgate-Palmolive (India) Limited, said, "We continue to be happy with our momentum and continue to be focused 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. This has been further supported by the excellent performance of Colgate Max Fresh, which has been relaunched with the best, proprietary freshness technology. We have also restaged our largest toothbrush franchise, Colgate Zig Zag with a superior mix that focuses on its core equity of deep, interdental cleaning. Our domestic growth remains strong, registering a 6.6% increase over the previous year quarter, with our toothpaste segment witnessing higher single-digit growth."

Colgate-Palmolive (India) Limited is the market leader in oral care in the country. With a primary focus on oral care & personal care in the Indian market, the company is recognised for its leadership and innovative efforts in advancing sustainability and community well-being.

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