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Pegged back by sluggish rural demand, the country’s largest toothpaste maker Colgate-Palmolive (India) posted weak December quarter results for the 2022-23 financial year (FY23). Even as the Street had muted expectations, given its dismal growth story for some time now, the company failed to meet the lower growth estimates as well.
While analysts were expecting the company to deliver a revenue growth in the mid-to-high single digits, the topline was flat. Volumes are estimated to have declined by about 3 per cent; pricing growth has been of a similar quantum, offsetting the overall impact.
The company indicated that the toothpaste
