New Delhi: FMCG major Colgate-Palmolive India today reported a marginal decline in net profit at Rs 142.58 crore for the fourth quarter ended March 31, 2017.
The company had posted a net profit of Rs 143.27 crore during the same period last year, Colgate-Palmolive said in a BSE filing. Net sales of the company rose 2.57 per cent to Rs 1,171.77 crore during the quarter under review as against Rs 1,142.36 crore in the January-March quarter of last fiscal.
Commenting on the result, Colgate Palmolive (India), MD Issam Bachaalani said: "In the fourth quarter, we saw encouraging signs of recovery from the impact of the liquidity crunch in the prior quarter".
For the entire fiscal, the company reported a net profit of Rs 577.43 crore as compared to Rs 581.17 crore in the 2015 -16 fiscal. Net sales during the year stood at Rs 4,489.85 crore as against Rs 4,318.98 crore in the last fiscal.
On the outlook, Bachaalani said: "We expect challenges while transitioning into the GST environment, including an impact on trade pipeline inventory. Colgate is taking all necessary steps to minimise business disruptions during the transition". Shares of the company were trading 1.87 per cent down at Rs 996 on BSE.