Q2FY24 Quarterly & H1FY24 Bi-Annual Result Announced for Colgate-Palmolive (India) Ltd.
Personal Products company Colgate-Palmolive (India) announced Q2FY24 & H1FY24 results: Q2FY24: 6.1% increase in net sales for Q2FY24, reaching Rs 1,462.4 crore as of September 30, 2023, compared to Q2FY23. Domestic growth was reported at 6.6% for the quarter. Profit after tax for the quarter showed growth of 22.3% at Rs 340.0 crore, as compared to the net profit of Rs 278.0 crore for Q2FY23. EBITDA margins continue to improve, up 120 bps vs. the sequential quarter and up 340 bps vs. the prior year quarter driven by pricing and efficiencies. H1FY24: In H1FY24, the Company achieved a net sales growth of 8.3%, reaching Rs 2,777.1 crore as compared to Rs 2,564.9 crore for H1FY23. Net profit after tax for the half-year exhibited growth of 25.8%, totaling Rs 613.7 crore. The Board declared a First Interim Dividend of Rs 22/- per equity share of face value of Re 1/- each for FY24 Prabha Narasimhan, Managing Director & CEO of Colgate-Palmolive (India), said, "We continue to be happy with our momentum and continue to be focussed 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's quarter, with our toothpaste segment witnessing higher single-digit growth. As the market leader, fostering healthy oral care habits among Indians is both our privilege and responsibility. In line with this objective, and our pursuit to elevate India's dental health standards, we have released a film this festive season called 'The Sweet Truth'. The film brings alive the importance of nighttime brushing and we hope this educational message will help in driving the important action of brushing at night and thereby preventing cavities". In addition, we remain committed to Colgate Bright Smiles, Bright Futures, a program that has positively impacted the lives of over 171 million children, with a core mission of instilling the right oral care practices from a young age." Result PDF26-10-2023
