Colgate Palmolive Q1 results: Net profit rises 33% YoY to ₹364 crore; stock surge over 6% to hit 52-week high

Colgate Palmolive shares surged to a fresh 52-week high of ₹3,424.95 per share on the NSE, up 6.34% from the previous close.

The stock has gained more than 68% in the past year, and so far in 2024, shares have returned around 36%.

In its Q1 results filed with stock exchanges after market hours on July 29, the FMCG company reported a 33% jump in net profit at ₹363.98 crore for the June quarter of FY 2024-25 compared to ₹273.68 crore in the year-ago period.

The oral hygiene product manufacturer reported a 13% rise in sales to ₹1,485.76 crore during the April-June quarter compared to ₹1,314.73 crore in the same quarter of the previous year.

Total income of the company increased by a little over 13% to ₹1,520.11 crore in the June quarter against ₹1,338.64 crore in the year-ago quarter. Total expenses advanced by 8.46% year-on-year to ₹1,030.86 crore.

“The quarter witnessed continued demand pickup in rural markets, outpacing growth in urban markets for the second quarter in a row. Led by this and good all-round performance of toothpaste, toothbrush and personal care, domestic revenues grew by 12.8% year-on-year for the quarter,” the company said in a release.

The FMCG major also informed the stock exchanges that it continued to focus on enhancing overall brand experience while maintaining a disciplined approach towards cost controls.

“Our toothpaste portfolio witnessed double-digit growth driven by high-single digit volume growth,” said Prabha Narasimhan, Managing Director and CEO of Colgate-Palmolive (India) Limited.

Colgate Palmolive shares were trading 5.50% higher at ₹3,386 apiece on the NSE at 12:10 pm.