Colgate India Sales Slip, But Net Up 54%
New Delhi: FMCG major Colgate-Palmolive India on Thursday reported an 8% rise in net profit to ₹ 136.4 crore for the first quarter ended June 30. The company had posted a net profit of ₹ 125.7 crore during the same period previous fiscal, the oral care products maker said in a BSE fi- ling. Net sales during the quarter under review, however, declined to ₹ 1,109.9 crore as against ₹ 1,141.5 crore in the April-June quarter last fiscal, down 2.8%. The company said the decline in sales was “largely due to destocking in the trade channel ahead of the implementation of GST.”
Colgate-Palmolive India enjoys a leadership position in both the toothpaste and toothbrush categories, with volume market shares at 54% and 45%, respectively, in Q12017-18. Total expenses during the period stood at ₹ 934 crore.