SME Times News Bureau | 31 Jul, 2015
Despite a surge in its income, consumer products firm Colgate-Palmolive
(India) Ltd on Thursday posted a decline of 15.3 percent in its net
profit at Rs.114.28 crore for the first quarter of the current fiscal.
Its net profit during the same period last year stood at Rs.134.91 crore.
The
company's net income from operations in the quarter rose by 5.6 percent
at Rs.1,010.15 crore against Rs.9,56.90 crore in the year-ago period.
Although
the company's organic growth in the review period increased by 8.8
percent, phasing out of fiscal benefits from the Himachal Pradesh
government resulted in the growth percentage being pulled down.
The
same factor impacted the company's bottomline also. Despite the net
profit surging by 19.1 percent during the quarter, phasing out of fiscal
benefits and the restructuring cost in its toothpowder manufacturing
facility in Aurangabad in Maharashtra resulted in its net profit
registering a decline of 15.3 percent.
Earnings per share in the review period stood at Rs.8.40.
The
company's board, in its meeting on Thursday has recommended a bonus
issue of one equity share for every share held subject to shareholders'
approval.