Colgate-Palmolive (India) Limited has released its financial results for the quarter and nine months ending December 31, 2023, showcasing a positive trend in both sales and profitability. The company reported a net sales figure of Rs. 1,386 crore for the quarter, reflecting an 8.2% increase compared to the same period the previous year. Notably, domestic growth for the quarter was reported at 8.8%. The FMCG company has also increased its ad spends to Rs 204.26 crore, marking a YoY surge of 20.20%.
During the same quarter, Colgate-Palmolive (India) Limited achieved a substantial net profit after tax, reaching Rs. 330 crore. This marks a notable 35.7% growth compared to the corresponding quarter in the previous year.
Examining the cumulative nine months ending December 31, 2023, the company reported an 8.3% growth in net sales, totalling Rs. 4,164 crore. This compares to the net sales figure of Rs. 3,846 crore for the same period in the previous year. The upward trajectory in sales indicates sustained growth and market resilience.
Prabha Narasimhan, Managing Director & CEO of Colgate-Palmolive (India) Limited, expressed satisfaction with the quarter's top-line growth. Narasimhan highlighted the company's commitment to advancing oral health through initiatives like 'The Sweet Truth - Brush at Night' campaign, reaching over 300 million people in urban India.
In the pursuit of consumer-centric strategies, Colgate-Palmolive (India) Limited emphasized the importance of driving superiority in its products, communication, and overall customer experience. Noteworthy in this quarter was the relaunch of Colgate MaxFresh, featuring a new-to-world proprietary formula infused with unique cooling crystals. This innovation aimed to deliver a superior freshness experience, gaining favour among consumers and positioning the brand ahead of direct competition.
Narasimhan further stated, "Profitability indicators are on an upward trend and we continue to enhance the investment support behind our brands. Our current performance underscores the effectiveness of our strategy, focus on technology, securing the right talent, and efforts in governance and cost management. These initiatives have yielded consistent growth for the company, with our toothpaste segment achieving double-digit growth and positive volume
expansion".
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