Continuing momentum with high-single digit volume growth in Toothpaste
Mumbai: Colgate-Palmolive (India) Limited announced its financial results for the second quarter of the fiscal year 2024-25.
Net Sales: Colgate-Palmolive (India) Limited reported 10.0% year-on-year topline growth for the quarter ended September 30, 2024 with domestic revenues growing by 10.5%. Net Sales increased to Rs. 1,609.2 crore from Rs. 1,462.4 crore with all parts of portfolio reporting strong consistent growth momentum.
Profitability: The Company reported Net Profit after tax of Rs. 395.1 crore in Q2 FY25 as compared to Rs. 340.1 crore in Q2 FY24, a growth of 16.2%. This includes one-off credit related to interest on income tax refunds received during the quarter. Advertising spend increased by 17.8% in the current quarter as compared to the same period last year with increased support behind both brand and category development actions. At the same time, the Company increased the investment behind delivering perceivably superior products to consumers.
Prabha Narasimhan, Managing Director & CEO of Colgate-Palmolive (India) Limited, said, “We are pleased with the robust, consistent topline performance in a tough operating environment. This has been led by broad-based growth across portfolios. Toothpaste achieved high-single digit volume growth on the back of our core brands- Colgate Maxfresh and Colgate Strong Teeth. Toothbrush continued to grow at double digits with rapid premiumisation. We expect continued difficult market conditions but remain committed to leverage our very strong P&L which allows us to continue to invest behind superior products and advertising while we maintain our focus on ensuring better oral health for everyone in India.
This was a big innovation quarter with the launch of Colgate Visible White Purple, a product that uses colour theory and builds on our growing whitening business. Early response has been excellent. In addition, we aired new communication on our flagship global offering – Colgate Total. With its patented Dual Zinc and Arginine Technology, Colgate Total offers the best everyday protection and is the cornerstone of our premiumisation strategy. Colgate Strong Teeth saw new advertising, built on the very relevant insight for today of increased snacking leading to increased loss of calcium and Colgate Strong Teeth with its arginine + calcium boost builds back this lost calcium.”
This quarter, Colgate’s Bright Smiles, Bright Futures® (BSBF) program achieved significant milestones partnering with the Governments of Uttar Pradesh and Goa to extend the reach of this flagship in-school program, aiming to positively impact Oral Health awareness amongst over 2 crore children in Uttar Pradesh and over 2 lakh children in Goa.
DIVIDEND
The Board declared a First Interim Dividend of Rs.24/- per equity share of face value of Re. 1/- each for the Financial Year 2024-25. The total dividend payout to the shareholders will be Rs. 653 crore and will be paid on and from November 21, 2024 to those shareholders whose names appear in the Register of Members/Beneficial Owners of the Company as on November 4, 2024.