Colgate-Palmolive India announced a significant 33% increase in net profit for the June quarter, reaching Rs 364 crore, boosted by price hikes and a surge in rural demand. This figure exceeded the analysts’ expectations of Rs 331 crore, as gathered by Bloomberg. The company’s revenue for the quarter rose 13% year-on-year to Rs 1,486 crore, surpassing the predicted Rs 1,429 crore.
For the second consecutive quarter, rural markets outpaced urban areas in growth. Domestic net sales increased by 13% compared to the same period last year. Despite a 10% year-on-year rise in advertising investment, operating margins remained steady.
Prabha Narasimhan, the managing director and CEO, highlighted that the toothpaste segment saw double-digit growth driven by high single-digit volume growth. The toothbrush segment also experienced double-digit growth in sales during the June quarter.
Colgate-Palmolive’s parent company recently raised its forecasts for annual profit and organic sales for 2024, following better-than-expected June-quarter results, which were driven by strong demand for their premium products.
Colgate-Palmolive India is a company in the personal care and household products industry, known for its popular toothpaste, mouthwash, and soap brands. It operates under the global Colgate-Palmolive brand, providing a range of oral care, personal care, and home care products.
The company focuses on maintaining high standards of quality and innovation, and it has a strong presence in the Indian market. Colgate-Palmolive India emphasizes customer satisfaction and continuous improvement, driving its growth and leadership in the industry.
