Business

Colgate-Palmolive sales drop

Board declares interim dividend of ₹16

Colgate-Palmolive (India) has reported a 7.35% drop in net sales to ₹1,062.35 crore for the quarter ended March 31, 2020, from a year earlier.

Further, volume declined 8%, which the company attributed to the COVID-19.

According to a statement by the company, net profit for the quarter was pegged at ₹204.15 crore, 3.32% higher than in the year-earlier period.

Net sales for FY 20

For the financial year 2019-20, net sales rose 1.2% over the previous fiscal to ₹4,487.6 crore. Net profit for FY20 rose to ₹816.5 crore, from ₹775.6 crore, the statement added.

“The COVID-19 pandemic has required us to think, operate and behave differently,” said Ram Raghavan, MD, Colgate-Palmolive (India).

“... all our plants are now operationa,” he added.

The company declared an interim dividend of ₹16 for FY20. The dividend would be paid on or after June 16, 2020, according to the company’s statement.

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Printable version | May 31, 2020 10:29:32 AM | https://www.thehindu.com/business/colgate-palmolive-sales-drop/article31644296.ece

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