Colgate India Q1 net profit up 8% to Rs 126 crore; net sales grow by 12%

MUMBAI: Colgate-Palmolive (India) has reported an 8% rise in its first quarter net profit at Rs 125.7 crore, while net sales grew 12% to Rs 1,141.5 crore.
In a statement, the company said it has maintained its toothpaste leadership position at 55.9% volume market share in June 2016 which is an improvement of 60 basis points (one basis point is equal to one-hundredth of a per cent) as against 55.3% in March 2016.
In the toothbrush category, Colgate has grown its volume market share to 46.8% in June 2016, an improvement of 100 basis points as compared to 45.8% in March 2016.
Colgate-Palmolive (India) has been facing competition from Patanjali Ayurved's Dant Kanti in the toothpaste category. To tackle this threat, the multinational is strengthening its natural range with the launch of Cibaca VedShakti.
During the quarter, Colgate said it has achieved a volume growth of 6% (domestic at 5%) over the same quarter of the previous year. With volume market share in June 2016 of 55.9% for toothpaste and 46.8% for toothbrush, the oral care category registered a strong net sales growth of 11% in this quarter. The company said new products, like Colgate Sensitive Clove and Colgate A1 Toothbrush have contributed to this growth and helped achieve a strong leadership share in the toothpaste and toothbrush segment.
Issam Bachaalani, MD, Colgate-Palmolive (India), said: “At Colgate, we are always striving to customise our innovations to meet the consumer’s need.
The stream of innovations launched by the company during this quarter echo our sustained promise to growing the oral care category by building new segments based on consumer insights, our years of experience, advanced technology and progressive products."