Colgate Palmolive has reported a 4% increase in net profit at Rs 28.54 crore for the third quarter ended December 31, 2004 as against Rs 27.45 crore in Q3FY04.According to a release issued to the BSE today, total income declined from Rs 260.29 crore in Q3FY04 to Rs 246.50 crore in the quarter ended December 31, 2004.