Colgate-Palmolive tanks 5% despite healthy growth in Q4 net profit, revenue

The company declared its results for the fourth quarter of FY24 and the full financial year on Tuesday.

The personal care company’s total income grew by more than 10% to ₹1,512.66 crore in Q4FY24 compared to ₹1,370.98 crore in the corresponding quarter of the preceding fiscal year. The leading FMCG firm’s net profit increased 20% to ₹379.82 crore year-on-year against ₹316.22 crore in Q4FY23. The company’s net profit grew 15% from ₹330.11 crore in December 2023 on a quarter-on-quarter basis.

Colgate Palmolive reported a growth of 7% in its total income from ₹1,413.54 crore in the December quarter.

The personal care company’s total income jumped 9% to ₹5,756.95 crore in FY24 from ₹5,279.77 crore in the preceding fiscal year. The company’s net profit for FY24 grew by more than 26% to ₹1,323.66 crore from ₹,1047.14 crore on a year-on-year basis.

The company declared a second interim dividend of ₹36 per share on Tuesday, May 14. The interim dividend includes a ₹10 special dividend which will be paid to shareholders on account of the company’s excellent performance in FY24.

Colgate Palmolive India Ltd shares closed at ₹2,673 apiece, down 5.21%, on the NSE.