New Delhi: Colgate-Palmolive India's stocks surged over 6 pc on Tuesday following a 33 pc increase in net profit to Rs 363.98 crore in the first quarter ending June 2024.
The FMCG major's stock jumped by 6.19 percent, reaching Rs 3,407.75 per share on the BSE. Afterwards, the company's stock increased by 6.75 percent to reach its highest point in 52 weeks at Rs 3,425.90 per share. In addition, the company's market capitalization soared by Rs 5,895.29 crore, reaching Rs 93,179.55 crore. The BSE Sensex, comprising 30 shares, surged by 316.99 points or 0.39 pc to reach a trading value of 81,672.83.
Colgate-Palmolive India's net profit increased by 33 pc in the first quarter to Rs 363.98 crore, as stated in a regulatory filing on Monday, due to increased demand and strong product performance. According to the regulatory filing, the manufacturer of oral hygiene products recorded a net profit of Rs 273.68 crore in April-June FY24. During the quarter being analyzed, sales increased by 13 per cent to Rs 1,485.76 crore compared to Rs 1,314.73 crore in the same period last year.
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