Last Updated on January 24, 2024 by BFSLTeam BFSLTeam
On January 22, 2024, Colgate-Palmolive (India) Limited (BSE, NSE: COLPAL, NYSE: CL) announced its Q3 2023-24 results, clocking Domestic Net Sales Growth at 8.8%, and NET PAT Growth standing at 35.7%.
Result Takeaways
Here are the main highlights of the results for Q3 FY24, along with results for the 9-month period that ended on 31 December 2023:
- In Q3 FY24, Colgate-Palmolive (India) Limited registered Net Sales of ₹1,386 Cr, a rise of 8.2% against the same quarter of the previous year. Domestic growth was reported at 8.8% for Q3 FY24.
- The Company clocked a Net Profit after Tax at ₹330 Cr for the quarter, relative to ₹243 Cr in Q3 FY23. This marked a 35.7% growth in the quarter of this fiscal year.
- For the 9 months ended 31 December 2023, the Company registered a Net Sales growth of 8.3%, reaching ₹4,164 Cr against ₹3,846 Cr for the same period of the previous fiscal year.
- The Net Profit after Tax for the 9 months ended 31 December 2023 stood at ₹944 Cr, an increase of 29.1% over Q3 FY23.
- The 9-month EBITDA at the end of Q3 FY24 was at 32.9% of Net Sales.
- Q3 FY24 witnessed the relaunch of Cogate MaxFresh with the campaign to boost sales – “#NeendBhagaoTaazgiJagao”.
- In Q3 FY24, there was a continuous concentrated effort to promote oral health via the slogan, “Brush At Night”.
Additional Read: Q3 Results Dashboard
The Management’s Take on Q3 Results
The MD and CEO of Colgate-Palmolive had some details of Q3 results to share:
- Q3 FY24 reaffirmed the Company’s commitment to the campaign – “The Sweet Truth-Brush At Night”, in a concerted effort to promote the nation’s oral health and hygiene. As a result, 300 million people were reached in urban India.
- Under the Company, the Colgate MaxFresh brand was boosted with a relaunch. The favourite toothpaste now has distinct cooling crystals to boost freshness. This has proved to give the Company an edge over its competitors in the market.
- The quarter has witnessed top-line growth aided by the robust performance of the Company’s core equities, and profitable indicators are facing an upward trend.
- In Q3 FY24, the Company continued to invest in its brands.
- The Toothpaste segment of the Company has experienced double-digit growth supported by initiatives such as effective strategising, securing talent, advancing technology, and making efforts towards achieving cost-effectiveness and governance.
Q3 FY24 Result Summary
One of the top players in the Personal Care segment of the Indian market, Colgate-Palmolive (India) Limited has earned a pride of place among consumers. With its commitment to oral care at the forefront of its operations, the Company that began with humble beginnings in India has risen with each passing quarter. Innovation and care is the mantra of the Company that provides India with the best in oral hygiene, not to mention other personal care products.
Additional Read: Colgate-Palmolive Share Price
For Q3 FY24, the top toothpaste maker’s Revenue has grown by 8.1%. The Company has also witnessed a rise in profitability and has surpassed estimates by analysts. Essentially, the Company’s profit has jumped on the back of robust urban demand and a drop in expenses. Total Expenses of the Company witnessed a drop of 0.5%, aided by low raw material costs and a decrease in inventory. The positive results of Q3 FY24 were largely supported by the Company’s oral care segment. Despite the rise in prices of products, there is a strong demand for goods due to consumers’ high average income in the present age.
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