This Oral Care Stock Declares A Dividend of Rs 21/Share, Reports Growth Of 3.7% In Net Sales

Colgate-Palmolive (INDIA) Ltd posted a growth of 3.7 per cent in net sales at Rs 1,341.7 crore for the fourth quarter over the same quarter of previous year. The largest producer, developer, marketer and seller of personal and oral care products also declared a second interim dividend of Rs 21/ share on Friday.

The company reported a decline in net profit after tax for the quarter at Rs 316.2 crore as against the net profit of Rs. 323.6 crore for the same quarter of the previous year. Excluding the impact of one time tax reversal in the prior year quarter, the net profit grew by 8.5 per cent for the quarter. Its domestic sales growth reported for the quarter ended March 31, 2023 is 5.4 per cent.

For the full year, net sales was recorded at Rs. 5,187.9 crore, an increase of 2.4 per cent over the previous year. Net profit for the period was reported as Rs 1,047.1 crore as against the net profit of Rs. 1,078.3 crore for the previous year. Excluding the impact of one time tax reversal in the previous year, the net profit grew by 0.1 per cent for the year.

Prabha Narasimhan, Managing Director & CEO of Colgate-Palmolive (India) Limited, said, "We are happy with the sequential progress and outcomes of the quarter. The Company has delivered domestic growth of 5.4%, with toothpaste delivering high single digit growth despite continuing sluggish demand trends in the category, especially in rural.

She further added, "This has been driven by our strategy to increase consumption, innovation focussed on delivering high quality science-led products and premiumisation. We remain fairly optimistic that the overall category growth will improve in the coming quarters."

Dividend Details
Colgate-Palmolive, the largest producer, developer, marketer and seller of personal and oral care products has declared a second interim dividend for the financial year 2022-23 of Rs 21 per share of Re 1 each (face value). The dividend payout to the shareholders will be Rs 571.17 crore and will be paid on or after June 8, 2023 to those shareholders whose names are on the Register of Members of the company as on May 20, 2023. The total dividend paid up would be Rs 39 per share for the year 2022-23.

Share price movement
The stock price of Colgate-Palmolive India Ltd is Rs1626.30 per share, increased by 0.12 per cent on an intraday basis. In the last one year the share price has rallied by 3.87 per cent and in the last three years it has grown by 19.64 per cent.