Colgate-Palmolive India's Q4 income up 2.32%; profit declines
Colgate-Palmolive (India) on Monday reported a rise of 2.32 per cent in its total income from operations for the fourth quarter (Q4) ended March 31. However, the net profit after tax declined marginally by 0.48 per cent.
According to the company, its total income from operations for the January-March quarter stood at Rs 1,176.71 crore -- up 2.32 per cent -- from Rs 1,150.07 crore reported during the corresponding period of last fiscal.
The company's net profit after tax in Q4 2016-17 marginally declined by 0.48 per cent to Rs 142.58 crore from Rs 143.27 crore in Q4 2015-16.
"In the fourth quarter, we saw encouraging signs of recovery from the impact of the liquidity crunch in the prior quarter. With the liquidity situation improving, sales growth moved positively in the fourth quarter as compared to the trailing quarter," Issam Bachaalani, Managing Director at Colgate-Palmolive (India), said in a statement.
"We expect challenges while transitioning into the GST environment, including an impact on trade pipeline inventory. Colgate is taking all necessary steps to minimise business disruption during the transition."
For the financial year 2016-17, the company's total income from operations was up 3.93 per cent at Rs 4,520.20 crore as against Rs 4,349.11 crore reported during the end of last fiscal.
The net profit after tax of the company during the financial year ended March 31, 2017 stood at Rs 577.43 crore -- a slight decline of 0.64 per cent -- from Rs 581.17 crore during the same period in 2016.
The company's scrip on the BSE slipped by 2.06 per cent to close at Rs 994.05 per share on Monday.