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What should investors do with Colgate-Palmolive post-Q3 result: buy, sell or hold?

The FMCG firm reported a 24.74 percent increase in net profit at Rs 248.36 crore in the December quarter. Total income stood at Rs 1,241.81 crore, up 7.70 percent compared to Rs 1,152.97 crore in the year-ago quarter.

January 29, 2021 / 10:22 AM IST
 
 
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Colgate Palmolive (India) share price added over a percent intraday on January 29, a day after the FMCG firm reported a 24.74 percent increase in net profit at Rs 248.36 crore in the third quarter ended in December. The company had posted a net profit of Rs 199.1 crore in the same quarter a year ago.

Total income during the period under review stood at Rs 1,241.81 crore, up 7.70 percent, as compared to Rs 1,152.97 crore in the year-ago quarter, Colgate-Palmolive (India) said in a regulatory filing.

"We are very pleased with not only the continued momentum on the business but also the quality of the results... Our strategic and disciplined approach to building brands, driving innovation, and relentless focus on winning on the ground continues to deliver as per our expectations," Ram Raghavan, Managing Director at Colgate-Palmolive (India) Ltd, said.

The stock was trading at Rs 1,585.90, up Rs 22.15, or 1.42 percent, at 0938 hours. It has touched an intraday high of Rs 1,588.55 and an intraday low of Rs 1,568.80.