Colgate-Palmolive India Q4 net flat on GST charge
Colgate-Palmolive India saw its net profit remain largely flat in the quarter ended March at Rs 353.3 crore due to the inverted duty structure-related charge arising from GST changes, credit related to interest on income-tax refunds in the reporting and base quarter, and organisation restructuring costs. Excluding one-offs and exceptional items, its net profit was up 9 per cent in the quarter.
The oral-care major saw its revenue rise 9.1 per cent year-on-year to Rs 1,595.4 crore, which the company said was due to momentum being broad-based across its core and premium portfolios and balanced between pricing and volume.
In a statement, Prabha Narasimhan, managing director and chief executive officer of Colgate-Palmolive (India), said, “Crucially, our accelerated investments in the strategic premium business are yielding stellar results, delivering growth that is 3x the overall company growth.”
“Our best-in-class gross margin profile remains strong, supported by a disciplined, company-wide approach to funding the growth cost-savings initiatives,” she added.
Colgate-Palmolive India will stay focused on driving category consumption and accelerating premiumisation, and she said the company is confident of sustaining the growth momentum as it remains committed to executing a strategy that is delivering results.
Narasimhan also said, “We continue to actively monitor the ongoing geopolitical developments and their impact on commodity price volatility. We are well positioned to manage the changing dynamics through effective cost-management principles and calibrated pricing actions as needed.”
