Colgate-Palmolive India's quarterly profit rises on oral care demand

Colgate-Palmolive

Today 12:32

Oct 22 (Reuters) - Colgate-Palmolive India COLG.NS reported a rise in second-quarter profit on Thursday, helped by demand for its toothpaste portfolio.
Here are the details:
The company reported a net profit of 3.42 billion rupees ($36.07 million) for the quarter ended September 30, compared with 3.28 billion rupees a year earlier
Its toothpaste portfolio delivered high-single-digit volume growth, led by its premium toothpaste range and strong performance in Colgate MaxFresh
Gross margin expanded 40 basis points year-on-year to 69.6%, helped by the company's Funding the Growth program
Revenue from operations increased 12.3% to 16.92 billion rupees from 15.07 billion rupees a year earlier.
"We remain committed to navigating commodity cost fluctuations through disciplined cost savings and calibrated pricing actions," said Managing Director and CEO Manish Anandani
Indian unit of US-based Colgate-Palmolive CL.N said it increased investments in brand-building and premiumisation during the quarter, and it expects robust growth ahead, driven by its science-backed product portfolio and strategic advertising spends.
Analysts at HDFC Securities had expected Colgate's growth to be driven by 12% volume growth on a low base, while analysts at Jefferies had forecast double-digit volumes and mid-single-digit pricing growth.
($1 = 94.8175 Indian rupees)

(Reporting by Payel Das; Editing by Jochelle Mendonca and Harikrishnan Nair)
((Payel.Das@thomsonreuters.com;))