Colgate-Palmolive Q1FY24 results: PAT at 30.5 % YoY at Rs 273.7 crore

Colgate-Palmolive (India) Ltd reported net profit after tax (NPAT) growth of 30.5 per cent at Rs 273.7 crore year-on-year (YoY) in the quarter that ended in June 2023 (Q1FY24), compared to Rs 209.7 crore from the same period last year.  Sequentially, the company reported a 13 per cent decline in net profit from Rs 316 crore in Q4FY23.

Q1FY24 also witnessed a net sales growth of 10.8 per cent YoY at Rs 1,314.7 crore. This was a small decline of two per cent from Rs 1,341.6 crore in the previous quarter that ended in March 2023.
 

The company has re-launched of its flagship brand, Colgate Strong Teeth and domestic sales have also increased. 
 

Prabha Narasimhan, Managing Director & CEO of Colgate-Palmolive (India) Limited, said, “While the domestic sales grew at 12.3 per cent compared to the same quarter of last year, toothpaste sales recorded a high double digits growth. We are also seeing early signs of recovery in rural markets and remain optimistic about continued improvement.”