Colgate-Palmolive (India) shares surged nearly 6% on Thursday after the consumer goods company posted strong results in the first quarter.
What Happened? The company said its consolidated net profit jumped 30.5% to ₹273.68 crore in the June quarter, compared to the ₹209.67 crore it earned a year ago.
The company’s total revenue also witnessed significant growth, reaching ₹1,314.73 crore, a 10.7% rise from ₹1,186.59 crore a year ago.
Colgate-Palmolive (India) saw robust domestic net sales growth of 12.3%. Toothpaste sales, in particular, achieved high double-digit growth, according to Prabha Narasimhan, managing director and CEO. She further expressed optimism about the company’s prospects, noting early signs of recovery in rural markets.
Price Action: Colgate shares shot up 5.8% to ₹1,993 – a record high for the firm – in morning trade on Thursday.
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