Colgate-Palmolive (India) Ltd reported a 20.1% increase in profit after tax (PAT) in the March quarter, reaching INR 379.8 crore.
The company had reported a PAT of INR 316.2 crore in the same quarter a year ago, as stated by the company in a regulatory filing.
In the quarter under review, the company’s net sales rose to INR 1,480.7 crore from INR 1,341.7 crore in the corresponding period last year.
In the fourth quarter of FY24, the company sustained its sequential growth momentum, driven by robust performance in the toothpaste segment.
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The company noted that rural markets continued to show encouraging signs of demand recovery, outpacing urban areas in growth.
The filing mentioned that the company maintained its investment in brand building, with advertising spending increasing by 18% in the fourth quarter compared to the same period in the previous year.
Colgate-Palmolive (India) reported a robust growth in its Profit After Tax (PAT) for the fiscal year ended March 31st. The figure surged by 26.4% year-on-year, reaching INR 1,323.7 crore, compared to INR 1,047.1 crore in the preceding year.
It added that in FY24, there was an 8.8% increase in net sales, amounting to INR 5,644.2 crore, compared to INR 5,187.9 crore in FY23.
The company achieved a domestic growth rate of 9.5%, driven by double-digit growth in the toothpaste category.
It stated that its robust performance in FY24 stemmed from the successful execution of strategic objectives. These included accelerating growth in the core portfolio, enhancing premium offerings through science-based innovation, stimulating growth in the toothbrush category, and expanding into the personal care sector.
“Looking at it from a geographical perspective, our rural segment has outpaced urban growth, and we’re maintaining strong performance in modern trade and e-commerce platforms,” remarked Prabha Narasimhan, Managing Director & CEO of Colgate-Palmolive (India).
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Regarding the outlook, Narasimhan expressed optimism, stating, “In the upcoming year, we anticipate market recovery, further enhancement of our already robust brand, and the introduction of innovative products, including the pioneering ‘Tooth Whitening Booster’ in our ‘Visible White’ range.”
The board of the company has announced a second interim dividend of INR 26 per share with a face value of INR 1 each.
Furthermore, the board has authorized a one-time special interim dividend of INR 10 per share to acknowledge the “outstanding performance” for the fiscal year 2023-24. As per the filing, the total dividend payout to shareholders will amount to INR 979.2 crore.