 "Colgate-Palmolive net down 22.6%")
FMCG-major Colgate-Palmolive India Ltd (CPIL) on Friday posted a 22.6 per cent fall in standalone net profit at Rs 127.8 crore for the quarter-ended December, hit by liquidity crunch after demonetisation.
The company had a net profit of Rs 165.1 crore in the year-ago period.
Its net sales were down 8.5 per cent to Rs 981.6 crore, against Rs 1,073.4 crore in the corresponding period of the previous financial year. “Reported net profit after tax at Rs 127.8 crore includes net tax reversal of Rs 16.5 crore.
Excluding the impact of these reversals, net profit after tax for the third quarter of FY17 is a decrease of 14.2 per cent,” the company said in a filing to the exchanges. CPIL’s total expenses fell 7.02 per cent to Rs 811.3 crore during the quarter, against Rs 872.6 crore in the year-ago period.