Oral care major Colgate-Palmolive (India) has registered a 3.6 percent on-year decline in profit at Rs 243.24 crore for the quarter ended December FY23, weighed down by muted growth in topline and weak operating performance.
Revenue from operations for the quarter stood at Rs 1,291.3 crore with a 0.87 percent rise over the year-ago period.
"Although oral care consumption continued to be weighed down in the quarter by adverse macro factors, we are cautiously optimistic going forward," the company said in its exchange filing on January 24.
It said that the focus remains to stay invested in category and brand building activities on key strategic pillars while delivering healthy EBITDA margins.
The operating numbers were also lower with EBITDA (earnings before interest, tax, depreciation and amortisation) declining 5 percent on-year to Rs 361.45 crore and margin falling more than 170 bps to 28 percent for the December FY23 quarter.
Click Here To Read All Earnings Related News
Overall numbers missed expectations of various analysts. According to the average of estimates of analysts polled by CNBC-TV18, profit was pegged at Rs 265 crore on a revenue of Rs 1,331 crore and EBITDA was estimated at Rs 390 crore with an operating margin of 29.3 percent for the quarter.
The stock reacted negatively to earnings, falling 2 percent to Rs 1,461 on the BSE on Tuesday.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
