Colgate Palmolive share price rises after Q2 results 2023

In this article, we will talk about the Colgate Palmolive share. Colgate Palmolive is one of the best and most reputable American multinational company consumer products companies. Its headquarters is on Park Avenue in Midtown Manhattan, New York City. The firm specializes in the production, allocation, and provision of household, personal care, and veterinary products. Now lots of people are searching for the company name as they are super curious to know about the Colgate Palmolive share. Here we have more information about the news and we will share it with you.

Colgate Palmolive

Colgate Palmolive share price

Colgate Palmolive’s share cost increased by over a percent in early trade on Friday, 27 September 2023 after the firm noted its financial results for the second quarter of the financial year 2023-2024. Colgate’s share cost earned as much as 1.29% to 2,058.85 apiece on the BSE. Colgate Palmolive (India) said a close net profit of 340.05 crores for the second quarter of FY24, registering a development of 22.31% from 278.02 crores in the year-ago period. The company’s revenue from functions in Q2FY24 grew 6.09% year-on-year to 1,462.38 crore from 1,378.37 crore, YoY. Scroll down to the next page for more information about the news.

The firm’s volume increase for the quarter remained muted, which was below most analysts’ estimates. At the operational level, earnings before interest, tax, depreciation, and amortization (EBITDA) during the quarter rose to 482.2 crores from 408 crores in the year-ago period. EBITDA margin expanded to 32.8% as against 29.4% in Q2FY23. The firm also declared a first interim dividend of 22 per equity share to be disbursed beginning 21 November 2023. Despite growth in net profit and revenue, the company’s toothpaste category volume has been flatish or marginally lower YoY in Q2FY24. You are on the right page for more information about the news, so please read the complete article.

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Motilal Oswal Financial Services

As far as we know, Motilal Oswal Financial Services noted that the firm’s overall growth appears stagnant, due to the muted volume increase going forward. Due to high role care penetration and competition from herbal players, Colgate Palmolive (India) has struggled to gain volume for many years. Moreover, premiumization in general trade and traction in personal care has been slow. Given the likelihood of continued weak topline and earnings growth in the also, it is unlikely that the stock will undergo a re-rating. Here we have shared all the information about the news if we get any information about the news. Stay tuned to us for more updates.

Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.