Oral care major Colgate-Palmolive India reported a 14.2 percent decrease in its net profit to Rs 127.8 crore in the quarter ended December 31, 2016 as against Rs 165.11 in the same period last year.
The company said that reported net profit includes net tax reversals of Rs 16.5 crore.
Its net sales in three months period ended December 31 was down by 8.6 percent temporarily impacted by the liquidity crunch, it said.
Net sales, in the quarter under review, were at Rs 981.62 crore as compared to Rs 1,073.40 crore in the corresponding period last year.
"In the wake of the liquidity crunch during the quarter, we took proactive measures to support our business partners to ensure ease of business. We extended credit to our customers, provided additional incentives, accelerated processing of trade claims and advanced payments to our supply chain partners to address liquidity issues," said company's Managing Director, Issam Bachaalani.
During 2016 calendar year, the company maintained volume market share in toothpaste category at 55.4 percent and in the toothbrush category at 47 percent.
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--IANS
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