- Web Desk
- 2 Hours ago
Q1 earnings: Colgate-Palmolive’s net profit surpasses Rs5 billion
- Web Desk
- Oct 28, 2024
ISLAMABAD: Colgate Palmolive Limited, trading under the symbol COLG on the Pakistan Stock Exchange (PSX), announced financial results for the quarter ending September 2024.
COLG reported a net profit of Rs5.1 billion, which translates to earnings per share (EPS) of Rs21.02. This is a big increase of 37.9 per cent as compared to last year’s profit of Rs3.7 billion, or Rs15.24 per share.
The company’s revenue also saw a rise, surging 8.4 per cent to hit Rs30 billion, up from last year’s Rs27.68 billion recorded in the same months.
Speaking of expenses, the cost of sales decreased 0.5 per cent, which helped boost the gross profit by 28.8 per cent to Rs10.8 billion for the first quarter of FY25. This resulted in an improved gross margin of 36.0 per cent, compared to 30.3 per cent in the previous year.
Additionally, Colgate’s other income rose 41.1 per cent, amounting to Rs1.55 billion in first quarter of the ongoing fiscal year, compared to Rs1.1 billion during the same quarter last year.
However, the company experienced increased expenses. Administrative costs rose by 39.2 per cent, reaching Rs348.97 million, while selling and distribution expenses climbed by 15.3 per cent to Rs3.15 billion. Other operating expenses also increased by 39.7 per cent, totalling Rs628.8 million.
The finance costs rose by 7.8 per cent, now standing at Rs41.65 million compared to Rs38.63 million in the same quarter last year, mainly due to higher interest rates.
The company paid Rs3.07 billion in taxes, up from Rs2.31 billion in the same period last year, resulting in an effective tax rate of 37.6 per cent, down slightly from 38.4 per cent compared to the last year.
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