NDTV Profit

Colgate-Palmolive Posts 2% Fall In Q2 Profit

Colgate-Palmolive (India) had posted a net profit of Rs 181.31 crore during the corresponding period of the previous fiscal year, the company said.
EMAIL
COMMENTS
Colgate-Palmolive posted a net profit of Rs 177.57 crore in Q2
Colgate-Palmolive posted a net profit of Rs 177.57 crore in Q2
New Delhi: FMCG firm Colgate-Palmolive (India) Ltd on Monday reported a 2.06 per cent decline in net profit at Rs 177.57 crore for the second quarter that ended on September 30, 2017. Colgate-Palmolive (India) had posted a net profit of Rs 181.31 crore during the corresponding period of the previous fiscal year, the company said in a regulatory filing. Net sales during the quarter under review was down 9.78 per cent at Rs 1,077.98 crore as against Rs 1,194.92 crore in the July-September quarter of 2016-17.

The company said reported net sales declined by 10 per cent due to changes in treatment of indirect taxes post-GST implementation.

"While wholesale demand was soft at the start of the quarter, we saw a gradual recovery and expect continued improvement in the coming quarters," Colgate-Palmolive (India) managing director Issam Bachaalani said.

Meanwhile, the company's board declared the first interim dividend of Rs 4 per share of Re 1 each for this fiscal year.

On Monday, shares in Colgate-Palmolive closed 3.20 per cent lower at Rs 1,057 apiece on the BSE, whose benchmark BSE Sensex closed at a record high of 32,633.64.

For latest news on Business, like us on Facebook and follow us on Twitter.
ALSO READ The Contrasting Telecom Fortunes Of Mukesh And Anil Ambani

Advertisement

Advertisement

GAINERS / LOSERS