Colgate-Palmolive logs 13% y-o-y growth in June quarter net profit; stock surges to 52-week high

27 Jul 2023 , 11:33 AM

Colgate-Palmolive (India) reported that its net profit increased by 13% y-o-y to Rs 274 crore in the first quarter ended June 30, 2023, compared to Rs 210 crore in the same quarter last year.

Following the earnings release, the company’s counter touched a new 52-week high of Rs 2,009.60 in today’s trading session.

Total revenue stood at Rs 1,323.7 crore in the quarter under review, up 10.6% y-o-y from Rs 1,196.8 crore in the previous fiscal’s similar period.

EBITDA increased 28.4% to Rs 418.2 crore in the first quarter of this fiscal year, up from Rs 325.7 crore in the same period of previous year. In the reporting quarter, the EBITDA margin was 31.6%, compared to 27.2% in the previous corresponding period.

For the quarter ending June 30, 2023, the company recorded a 10.8% increase in net sales over the same quarter of the previous year, totalling Rs 1,314.7 crore.

‘While domestic sales increased by 12.3 percent compared to the same quarter last year, toothpaste sales increased by double digits,’ said Prabha Narasimhan, managing director and CEO. 

At around 11.27 AM, Colgate Palmolive India was trading 6.01% higher at Rs 1,996.75 per piece, against the previous close of Rs 1,883.60.

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