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Colgate Palmolive net profit for Q2 20 grew by 12.7%

The board declared a first interim dividend for the financial year 2020-21 of Rs. 18 per share

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New Delhi: Colgate-Palmolive (India) has reported net sales of Rs. 1,277.6 crore for the quarter ended September 30, 2020, an increase of 5.3 per cent over the same quarter of the previous year.

Domestic net sales for the quarter reported 7.1 per cent growth. Reported net profit after tax for the quarter was Rs. 274.2 crore as against the net profit of Rs. 244.1 crore for the same quarter of the previous year. Excluding the one-time impact of tax rate change in the previous year, the net profit growth is 32 per cent.

H1 2020-21: Net sales for the half year ended September 30, 2020 was recorded at Rs. 2,311.3 crore, an increase of one per cent over the same period of the previous year. Reported net profit for the same period was Rs. 472.4 crore, an increase of 14 per cent over the preceding period.

Dividend: The board declared a first interim dividend for the financial year 2020-21 of Rs. 18 per share of Re 1 each (face value). The dividend pay out to the shareholders will be Rs. 489.6 crore and will be paid on and from 17 November 17 2020 to those shareholders whose names are on the Register of Members of the Company as on 22 November 2020.

Colgate Palmolive MD Ram Raghavan says, “We are very pleased with our performance as we continue to see momentum strengthening across the portfolio with domestic revenue growing at 7.1 per cent this quarter. Our resilience and disciplined approach to managing all revenue and cost drivers, despite all the uncertainties and challenges around us drove improvements in key financial metrics with gross margins and EBITDA at 67.9 per cent and 32 per cent respectively.

We are pleased that we were able to increase shareholder value while we continue to drive innovation that meets the needs of our consumers. All categories saw positive growth this quarter with toothpaste continuing its accelerated performance, driven by strong brand fundamentals and household penetration. The quarter also saw some exciting innovation. We launched Colgate Visible White Instant, with its unique optical brighteners technology that starts whitening from the first brushing itself.

The new Colgate Gentle line of toothbrushes offers an effective yet gentle clean. Launched across price points, it offers solutions to different consumer preferences. We also relaunched our flagship toothbrush, Colgate Zig Zag, with unique anti-bacterial bristle technology.

Another first from our stable, was the launch of our Colgate Vedshakti mouth spray. A pocket sized solution that offers instant germ kill with a refreshing minty saunf flavour, that consumers love.

Our sharp focus aimed at fulfilling demand and ensuring uninterrupted access ensured agile and innovative approaches, specifically in our supply chain and distribution efforts. As an organisation we continue to live our values and remain unwavering in our focus to improve the health and well-being of our consumers. We are thankful to our customers, business partners and employees for their continued support.”

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