Colgate's net profit rises 9% at Rs199.1cr in Q3FY20

Colgate's net profit rises 9% at Rs199.1cr in Q3FY20
Colgate-Palmolive (India) Limited reported a net profit after tax for the quarter at Rs199.1cr in Q3FY20 as against the net profit of Rs192.1cr for the same quarter of the previous year. Excluding the impact of prior-year tax reversals in the previous year, the net profit after tax has increased by 9% in the current year.

The net sales of Rs1,136cr for the quarter ended December 31, 2019, saw an increase of 4.1% over the same quarter of the previous year with volume growth at 2.3%.

Net sales for the nine months ended December 31, 2019, was recorded at Rs3,425.2cr, an increase of 4.2% over the same period of the prior year. Domestic net sales growth for the nine months ended December 30, 2019, reported at 5%. The company reported net profit for the same period at Rs612.3cr. 

Ram Raghavan, Managing Director at Colgate-Palmolive (India) Ltd, said, “The current quarter continued to witness demand moderation and soft consumer sentiments. The Company reported a net sales growth of 4.1% despite category headwinds in both rural and urban.”

Stock view:
Colgate-Palmolive (India) Ltd is currently trading at Rs1,430.75, down by Rs54.75 or 3.69% from its previous closing of Rs1,485.50 on the BSE.

The scrip opened at Rs1,475 and has touched a high and low of Rs1,506.45 and Rs1,422.75 respectively.  




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