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Colgate Q4FY23 PAT down -2.27% at Rs316 crore on exceptional losses and higher tax outgo

May 13, 2023

By: BlinkX Research Team

Colgate Palmolive (India) Ltd reported 3.8% growth in total revenues for the March 2023 quarter on consolidated basis at Rs1,351cr. On a sequential basis, the revenues were up 4.6%. While the overall net sales were up 3.8% the domestic sales grew by 5.4%. FY23 net sales were up 2.4% yoy. If the impact of the one-time tax reversal was excluded, the profits would have actually grown by 8.5% yoy.

The big boost came from the domestic market sales growth at 5.4%. Toothpaste delivered high single-digit growth for the quarter despite sluggish rural demand. Category growth has been managed by the company through higher consumption, science based innovation and premiumization of products. The company is also relaunching its highly popular Colgate Strong Teeth brand with modified Arginine technology.

Financial highlights for Mar-23 compared yoy and sequentially

The lower profits yoy were due to an exceptional loss on account of restructuring write-offs as well as a one time tax reversal. If these effects were excluded the net profit would have actually grown by 8.5% for the quarter. Colgate Palmolive India declared second interim dividend of Rs21 per share taking the total dividend for the year to Rs39 per share.