Colgate-Palmolive 3Q profit up 16pc to Rs131 crore
MUMBAI: Colgate-Palmolive (India) Ltd on Friday said fiscal third-quarter stand-alone profit rose 16% to Rs.130.86 crore from Rs.112.83 crore a year ago, missing analyst expectations. Net sales increased 11.83% to Rs.988.6 crore from Rs.883.95 crore. The company posted volume growth of 5% for the quarter on toothpastes and also increased its volume marketshare in the category by 80 basis points (bps) to 56.7%, it said in a statement to BSE. One basis point is one-hundredth of a percentage point. The company also increased its volume marketshare in the toothbrush category by 80 bps to 42.4% for calendar year 2014. During the quarter, its gross margin expanded by 230 bps as it focused on driving effciencies, reducing costs, and innovations, it said in the statement. In December 2014, the company paid a second interim dividend for fiscal year 2014-15 of Rs.8 per share. ColgatePalmolive shares lost 0.55% to close at Rs.1,911.20 on BSE on Friday while the benchmark Sensex gained 0.94% to close at 29,278.84 points.