Colgate-Palmolive (India) fell 1.52% to Rs 1,467.55 after the company reported a 3.6% decrease in net profit to Rs 243.24 crore in Q3 FY23 from Rs 252.33 crore posted in Q3 FY22.
The company recorded a marginal increase in revenue to Rs 1,281.21 crore in the quarter ended 31 December 2022 as against Rs 1,271.29 crore reported in Q3 FY22. Domestic sales growth reported for the quarter ended 31 December 2022 was 2.3%.
Profit before tax stood at Rs 326.93 crore in Q3 FY23, down 4.07% from Rs 340.80 crore registered in the corresponding quarter previous year.
Total expenses rose 3.15% year on year to Rs 974.75 in Q3 FY23. During the quarter, cost of materials consumed was at Rs 369.37 crore (up 9.39% YoY) while employee benefit expenses stood at Rs 98.91 crore (down 1.65% YoY).
Prabha Narasimhan, managing director at Colgate-Palmolive (India), said, "The company is focused on its key strategic pillars of building oral care habit in India, driving innovation and renovation through science led products and premiumisation. In this quarter, we have partnered with the Andhra Pradesh government to kick-off the Oral Health awareness program of 'Bright Smiles Bright Futures'.
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"Colgate has launched an e-commerce platform; a first that is exclusively for dentists - dentistfirst.co.in to enable them access to specialty Colgate products that will be directly delivered to their clinics."
Narasimhan further added, Although oral care consumption continued to be weighed down in the quarter by adverse macro factors, we are cautiously optimistic going forward. The focus remains to stay invested in our category & brand building activities on key strategic pillars while delivering healthy EBITDA margins. We continue to build positive momentum in driving premiumisation across categories led by the modern trade and e-commerce channels."
Colgate-Palmolive (India) provides oral care products under the 'Colgate' brand. It also provides personal care products under the 'Palmolive' brand name.
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