Colgate-Palmolive Reports Jump In March Profit; Stock Surges Over 2%
Colgate-Palmolive shares surged more than 2 per cent on the BSE after the company reported a jump in net profit in the March 2021 quarter. The company reported a 54.1 per cent growth in net profit at Rs 314.6 crore in the quarter ended March 2021 from Rs 204.1 crore in the same quarter of the previous year. At 1:05 pm, the shares of Colgate-Palmolive were trading at Rs 1,606, higher by 2.43 per cent, on the BSE.
The company's net sales grew 20.2 per cent to Rs 1,275.0 crore during the quarter ended March 31, 2021.
Ram Raghavan, Managing Director at Colgate-Palmolive said, "We continue to have strong momentum across all categories. Our focused approach to executing our strategic initiatives has been instrumental in our continued abilities to sustain our growth momentum vs year ago as well as on a sequential basis."
Meanwhile, Colgate-Palmolive reported net profit of Rs 1,035.4 crore for the year ended March 2021, an increase of 26.8 per cent over the previous year.
The BSE Sensex was trading at 49,367.55, higher by 631.29 points or 1.26 per cent and the NSE Nifty was at 14,848.85, up 164 points or 1.1 per cent at the time.
