Colgate Palmolive Q3 Results FY2023, Net Profit at Rs. 243.2 crores

Colgate Palmolive Q3 Results FY2023

Corporate Action
by Shreya Anaokar Last Updated: 2023-01-25T13:03:34+05:30

On 24th January 2023, Colgate Palmolive announced its results for the third quarter of FY2023.

Key Highlights:

-  Colgate-Palmolive reported Net Sales of Rs. 1,281.2 crores for the quarter, a growth of 0.8% YoY. 
- Net Sales for the 9MFY23 were recorded at Rs. 3,846.2 crores, an increase of 1.9% over the same period of the previous year.
- Domestic sales growth reported for the quarter that ended December 31, 2022 is 2.3%.
- The company reported a Net profit after tax for the quarter was Rs. 243.2 crores.

Commenting on the results, Ms. Prabha Narasimhan, Managing Director at Colgate-Palmolive (India) Limited, said, "The Company is focused on its key strategic pillars of building oral care habit in India, driving innovation and renovation through science-led products and premiumization. 
In this quarter, we have partnered with the Andhra Pradesh government to kick off the Oral Health awareness program of 'Bright Smiles Bright Futures'. This initiative was recently kickstarted from a school in the Nellore district, where the company will work with the state government to educate children on oral health and build awareness on saying 'No' to tobacco. 
Continuing with our long-standing relationship with dentists in India and with the ever-present push on digitization, Colgate has launched an e-commerce platform; a first that is exclusively for dentists - dentistfirst.co.in to enable them access to specialty Colgate products that will be directly delivered to their clinics. 
Although oral care consumption continued to be weighed down in the quarter by adverse macro factors, we are cautiously optimistic going forward. The focus remains to stay invested in our category & brand building activities on key strategic pillars while delivering healthy EBITDA margins. We continue to build positive momentum in driving premiumization across categories led by the modern trade and e-commerce channels." 
 


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About the Author

Shreya Anaokar is a Content Writer at 5paisa. She has completed her Master’s in Finance and Graduation in Statistics from the University of Mumbai. 

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.

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