Colgate-Palmolive shares jumped more than 2% on BSE after the company reported higher net income in the March 2021 quarter. The company reported 54.1% profit growth net to Rs 314.6 crore in the quarter ended March 2021 compared to Rs 204.1 crore in the same quarter of the previous year. As of 1:05 p.m., shares of Colgate-Palmolive were trading at Rs 1,606, up 2.43 percent, on BSE.
The company’s net sales increased 20.2% to Rs 1,275 million in the quarter ended March 31, 2021.
Ram Raghavan, Managing Director of 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 ability to maintain our momentum of growth over last year 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% from the previous year.
The BSE Sensex was trading at 49,367.55, an increase of 631.29 points or 1.26% and the NSE Nifty was at 14,848.85, up 164 points or 1.1% at the time.