FMCG major Colgate-Palmolive India Ltd on Wednesday reported a decline of 10.1 % in net profit at Rs 209.67 crore for the June quarter, impacted by an overall rural slowdown and inflationary pressures. The company had posted a net profit of Rs 233.23 crore in the April-June period a year ago, Colgate-Palmolive India Ltd (CPIL) said in a regulatory filing.
Its revenue from operations was up 2.48 % at Rs 1,186.59 crore during the quarter under review. In the year-ago period, the same stood at Rs 1,157.86 crore.
The company’s total expenses were at Rs 916.60 crore, up 6.95 % in the first quarter of FY23 as against Rs 856.99 crore in the same period a year ago.
CPIL Chairman Mukul Deoras said the current quarter continued to witness challenging trends, which was there in the previous quarter also. “While we remain cautiously optimistic that the trends will improve in the coming quarters, the current quarter was impacted by an overall rural slowdown and inflationary pressures,” he said.
On Wednesday, shares of Colgate-Palmolive India Ltd rose 2.05 % to settled at Rs 1,564.35 apiece on BSE.