Colgate-Palmolive India Q4 net profit rises 3.3% to Rs 204 cr on tax reversals; COVID-19 outbreak hits sales volume – Firstpost

New Delhi: FMCG main Colgate-Palmolive India Ltd on Thursday reported a 3.32 p.c enhance in its fourth quarter net profit at Rs 204.15 crore helped by tax reversals.

The firm had posted a net profit of Rs 197.59 crore within the January-March quarter a 12 months in the past, Colgate-Palmolive India Ltd (CPIL) mentioned in a regulatory submitting.

However, its net sales declined 7.35 p.c to Rs 1,062.35 crore through the quarter beneath assessment, as in opposition to Rs 1,146.63 crore within the 12 months-in the past interval.

The firm witnessed a dip in sales owing to volume decline of eight p.c primarily due to COVID-19 disruptions, CPIL mentioned in a put up incomes assertion.

Representational picture. News18

“Excluding the affect of prior 12 months tax reversals, the net profit after tax has decreased by Three p.c within the present 12 months,” it added.

Its complete bills was at Rs 856.54 crore through the March quarter, as in opposition to Rs 885.16 crore a 12 months in the past, registering a decline of three.23 p.c.

Commenting on the earnings, CPIL Managing Director Ram Raghavan mentioned: “The COVID-19 pandemic has required us to suppose, function and behave in another way. The lockdown did have an effect on our enterprise, as seen in our outcomes.”

Raghavan additional mentioned that the well being and properly being of customers, enterprise companions and staff have at all times been its utmost precedence.

“Our quick consideration is channeled in direction of fulfilling the continued demand that we’re seeing for our merchandise,” he mentioned.

For the fiscal 12 months 2019-20, CPIL’s net profit was up 5.27 p.c to Rs 816.47 crore. It was Rs 775.57 crore within the earlier 12 months.

Its net sales in fiscal was up 1.24 p.c to Rs 4,487.57 crore. It was Rs 4,432.44 crore in 2018-19.

Meanwhile, in a separate submitting CPIL mentioned its board in a gathering held on Thursday has declared a second interim dividend of Rs 16 perequity share for the monetary 12 months 2019-20.

Shares of Colgate-Palmolive India settled at Rs 1,333.90 on BSE, down 1.31 p.c.

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