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Colgate-Palmolive Q3 net profit dips 4 pc to Rs 243 crore

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The company’s net profit for the third quarter of 2022 declined by 4 percent compared to the net profit of Rs 252 crore in the previous fiscal

New Delhi: Colgate-Palmolive (India) on Tuesday said its net profit declined by 4 percent to Rs 243 crore in the third quarter ended December 31, 2022.

The company had reported a net profit of Rs 252 crore in the October-December period of the previous fiscal.

Total income, however, increased to Rs 1,302 crore in the period under review as compared with Rs 1,286 crore in the year-ago period, Colgate-Palmolive (India) said in a regulatory filing.

Net profit for the nine months ended December 31, 2022 declined to Rs 731 crore as compared with Rs 755 crore in the year-ago period.

“The company is focussed on its key strategic pillars of building oral care habit in India, driving innovation and renovation through science-led products and premiumisation,” Colgate-Palmolive (India) Managing Director Prabha Narasimhan said.

Although oral care consumption continued to be weighed down in the quarter by adverse macro factors, the company is cautiously optimistic going forward, she added.

“The focus remains to stay invested in our category and brand building activities on key strategic pillars while delivering healthy EBITDA margins,” Narasimhan said.

Shares of the company were trading 1.66 percent down at Rs 1,465.40 apiece on the BSE.

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