Colgate-Palmolive (India) Limited reports Q4, FY2020 earnings

Q4 2019-20: Colgate-Palmolive (India) Limited today reported Net Sales of Rs. 1,062.4 crore for the quarter ended March 31, 2020, a decrease of 7.4% over the same quarter of the previous year with volume decline at 8% mainly impacted due to current COVID situation. Reported Net profit after tax for the quarter was Rs. 204.2 crore as against the Net Profit of Rs. 197.6 crore for the same quarter of the previous year. Excluding the impact of prior year tax reversals, the Net profit after tax has decreased by 3% in the current year.

FY 2019-20: Net Sales for the year ended March 31, 2020 was recorded at Rs. 4,487.6 crore, an increase of 1.2% over the same period of the prior year. Reported Net Profit for the year Rs. 816.5 crore as against the Net Profit of Rs. 775.6 crore for the previous year.

Mr. Ram Raghavan, Managing Director at Colgate-Palmolive (India) Ltd, said, The COVID-19 pandemic has required us to think, operate and behave differently. The lockdown did have an impact on our business, as seen in our results. But the health and well being of our consumers, customers, business partners and employees have always been our utmost priority. This has only heightened in these uncertain times.

As India's most trusted oral care brand, we thank our consumers for their continued trust and loyalty. Our immediate attention is channeled towards fulfilling the continued demand that we are seeing for our products.

Our relentless focus on our consumers and customers has reflected in creative solutions, not only in the way we work but also in terms of how we make our products available to our consumers.

Our team continues to display a remarkable sense of agility. resilience and creativity in our efforts to normalise our business operations, while continuing to maintain our health and safety standards. This was best reflected in the recent launch of Palmolive Hand Sanitizers.

Additionally, all our plants are now operational and we continue to follow all social distancing and hygiene practices across all our facilities.

As an organisation we continue to live our values through our actions, reflected in initiatives like providing health insurance coverage for our distributor salesmen, staying true to our leadership programs and welcoming our new batch of Management Trainees.

Shares of COLGATE-PALMOLIVE (INDIA) LTD. was last trading in BSE at Rs.1352.45 as compared to the previous close of Rs. 1349.75. The total number of shares traded during the day was 37380 in over 4221 trades.

The stock hit an intraday high of Rs. 1393.35 and intraday low of 1347.05. The net turnover during the day was Rs. 51271480.

Source : Equity Bulls

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