FMCG major Colgate-Palmolive India Ltd (CPIL) on Thursday (October 26) declared an interim dividend of ₹22 per equity share for the 2023-24 fiscal.

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The total dividend payout to the shareholders will be ₹598.4 crore, the company said in a statement after its board of directors approved the payment.

"Declaration of a first interim dividend of ₹22 per equity share of the face value of ₹.1 for the Financial Year 2023-24.," a stock exchange filing read.

The company said the interim dividend will be paid starting November 21 to shareholders whose names appear in the register of members or beneficial owners of the company as of November 6.

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The FMCG major reported a 22.31 percent increase in net profit at ₹340.05 crore for the second quarter ended on September 30, driven by pricing and efficiencies.

The company had posted a net profit of ₹278.02 crore in the July-September quarter a year ago, Colgate-Palmolive India said in a regulatory filing. Its sales were up 6.09 percent to ₹1,462.38 crore during the quarter under review, as against ₹1,378.37 crore of the corresponding quarter a year ago.

CPIL's EBITDA margins "continue to improve, up 120 bps vs. sequential quarter and up 340 bps vs. prior year quarter driven by pricing and efficiencies," the company said. Its total expenses were at ₹1,034.29 crore in the September quarter of FY24. The total income in the September quarter was ₹,492.10 crore, up 6.67 percent.

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CPIL's domestic growth remains strong, registering a 6.6 percent increase over the previous year's quarter, with the toothpaste segment witnessing higher single-digit growth, Colgate-Palmolive India Managing Director Prabha Narasimhan said.

"We continue to be happy with our momentum and continue to be focussed on strengthening our brand portfolio & delivering superior products to consumers. In this quarter we have doubled down on the Colgate Strong Teeth relaunch, expanding reach & availability," she added.

Shares of Colgate-Palmolive India Ltd ended at ₹2,040.95, down by ₹32.35, or 1.56%, on the BSE.

First Published:Oct 26, 2023 4:12 PM IST