Colgate-Palmolive India shared a 35.7 percent jump in third-quarter profit, due to healthy urban demand and a fall in expenses, as per reports.
Colgate Palmolive India has increased spending on advertising in Q3 of FY24 to Rs 204.26 crores by 20.20 percent on a YoY basis, the reports further shared.
The company also ran a campaign during the quarter that reached over 300 million people in urban India, CEO Prabha Narasimhan said in a statement.
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Narasimhan further said, “In this quarter, we reaffirmed our commitment to advancing the nation’s oral health through ‘The Sweet Truth – Brush at Night’ campaign, reaching over 300 million people in urban India. With consumers at the core, our focus remains on strengthening the strategic pillars of driving superiority- in our products, communication, and overall experience. Colgate MaxFresh underwent a relaunch, introducing a new-to-world proprietary formula infused with unique cooling crystals to deliver a superior freshness experience which is winning with consumers ahead of our direct competition.”
“We are pleased with top line growth for the quarter supported by the strong performance of our core equities. Profitability indicators are on an upward trend and we continue to enhance the investment support behind our brands. Our current performance underscores the effectiveness of our strategy, focus on technology, securing the right talent, and efforts in governance and cost management. These initiatives have yielded consistent growth for the company, with our toothpaste segment achieving double-digit growth and positive volume expansion,” she added.
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The company’s net profit rose to 3.30 billion rupees ($39.7 million) for the quarter ended Dec. 31 from 2.43 billion rupees a year earlier.
Sales of consumer goods makers have been boosted by urban consumers with higher average income, even in the face of elevated prices of essential goods.
Total expenses fell 0.5 percent, helped by lower inventory and raw material costs.
The Indian arm of the U.S. consumer goods major reported an 8.2 percent increase in sales to 13.86 billion rupees, helped by its core oral care category.