Colgate Q1 Results: Net profit up 31% to ₹273.7 crore, net sales jump 10.8%

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₹273.7 crore which was 31% higher than ₹209.7 crore reported during the corresponding quarter in the last fiscal year. Colgate's sales grew 10.8% to ₹1314.7 crore during the quarter ending June 2023. The revenue of Colgate rose from ₹1,208.3 crore in Q1FY23 to ₹1,338.6 crore during the quarter ending June 2023.

The Earning Per Share of the company improved to ₹10.6 in Q1FY24 from ₹7.71 during the corresponding quarter last fiscal. With its Q1 results, Colgate also announced the appointment of former IAS officer Dr. Indu Bhushan as an Additional Director designated as Independent Director (Non-Executive) of the company.

Bhusan has a wide range of experience across sectors in both government and private. He worked as a Senior Economist with the World Bank Group before joining the Asian Development Bank (ADB). In 2018, Dr.

Bhushan was appointed by the Government of India as the Chief Executive Officer (CEO) of Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (AB-PMJAY), a flagship health assurance scheme covering over 500 million citizens in India. “We are pleased with the results for the quarter that saw strong quarter-on-quarter sales growth and improvement across profitability ratios. This has been driven by good execution against our strategy focussed on growing the oral care category.

While domestic sales grew at 12.3% compared to the same quarter of last year, toothpaste sales recorded a high double digits growth. We are also seeing early signs of recovery in rural markets and remain optimistic about continued improvement," Prabha Narasimhan, Managing Director and CEO of Colgate-Palmolive (India) Limited said. “In pursuit of our commitment to improve oral health in India and to grow the Oral Care category, we