FMCG Major Announces 35.7% Jump In Q3 Profit, Shares Soar 68.89% In 1-Yr

Leading FMCG major Colgate-Palmolive India Ltd today announced a jump of 35.71% in its net profit to Rs 330.11 crore for the quarter ended December 31, 2023 pushed by double digit growth in the toothpaste segment.

The company has announced its net profit at Rs 243.24 crore in the corresponding quarter of last year, as per its BSE filing. The company witnessed a surge of 8.21% in its sales to Rs 1,386.41 crore for Q3 of the current fiscal as against Rs 1281.21 crore reported in the similar quarter of last year.

Last trading price of Colgate-Palmolive shares on BSE is quoted at Rs 2534.15 apiece with intraday gain of 1.77% (as on January 22, 2024). Colgate-Palmolive shares 68.89% in last 1-year and rallied 77% in last 2-years. "We are pleased with top line growth for the quarter supported by the strong performance of our core equities. Profitability indicators are on an upward trend and we continue to enhance the investment support behind our brands," Prabha Narasimhan MD & CEO said.

"These initiatives have yielded consistent growth for the company, with our toothpaste segment achieving double-digit growth and positive volume expansion," stated Prabha Narasimhan.

Colgate-Palmolive declared its expenses at Rs 970.14 crore, slightly down during the quarter under review. Meanwhile total income for the quarter under consideration declared at Rs 1,413.54 crore, up 8.6%.

Colgate-Palmolive Stock Outlook & Return: The 52-week high price of Colgate-Palmolive shares on BSE is Rs 2549.00 per share and 52-week low price is Rs 1434.60 per share, respectively. Its market capitalisation is Rs 68,925.24 crore. Colgate-Palmolive shares gained 20% in last 3-months, soared 38% in last 6-months, rose 69.89% in last 1-year, and offered return of 64% in last 3-years. In last 5-years, the scrip gained 93%.

Colgate-Palmolive (India) Dividend In Q2: Colgate has declared highest ever dividend of Rs 22/- per equity share of the FV of Re 1 for FY 2023-24. The company issued a BSE filing regarding interim dividend announcement and stated, "Declaration of First Interim Dividend of Rs. 22/- (Rupees Twenty Two Only) per equity share of face value of Re.1/- for the Financial Year 2023-24. The said interim dividend will be paid on and from November 21, 2023 to those shareholders whose names appear in the Register of Members/Beneficial Owners of the Company as on the Record date i.e. November 06, 2023."

About: Colgate-Palmolive manufactures and distributes consumer products. The company operates via personal, oral, home care and pet nutrition segments. The small soap and candle business that William Colgate began in New York City early in the 19th century is now, more than 200 years later, a global company serving hundreds of millions of consumers worldwide.

Disclaimer: The stock just highlights the Q3 Results and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.