Colgate drops after Q2 results
Colgate shed nearly 3% to Rs 375 after it reported 25% fall in net profit for Q2 September 2006 due to a huge VRS outgo.1.9 lakh shares changed hands in the counter on BSE.24.9% to Rs 23.18 crore (Rs 30.88 crore). Net sales rose 15% to Rs 320.01 crore (Rs 278.12 crore).A huge outgo of Rs 58.80 crore on account of voluntary retirement scheme impacted Colgate’s net profit in Q2 September 2006.
A few months back, Colgate had hiked prices of its toothpastes by about 4 per cent across all the brands except Cibaca that caters to the lower end of the market, on the back of continual input cost pressures. Most FMCG companies have resorted to price hikes this year across product categories like shampoos, soaps and detergents on account of increasing input costs.
Colgate is the market leader in the toothpastes category with 47 per cent share.
A few months back, Colgate had hiked prices of its toothpastes by about 4 per cent across all the brands except Cibaca that caters to the lower end of the market, on the back of continual input cost pressures. Most FMCG companies have resorted to price hikes this year across product categories like shampoos, soaps and detergents on account of increasing input costs.
Colgate is the market leader in the toothpastes category with 47 per cent share.
posted by SY at 6:23 PM
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