Colgate Palmolive declines by nearly 3 per cent on weak results

The share prices of Colgate Palmolive fell by nearly 3 per cent on the back of poor financial performance in the second quarter of FY18. The company posted a 2 per cent decline in its net profit to Rs. 177.6 crore on a year on year basis, on Monday.

However, the company’s revenue increased by 2.7 per cent to Rs. 1,085 crore in the second quarter of FY18 against Rs. 1,056.6 crore in the same period in the previous year. The company’s EBITDA also witnessed a 9 per cent increase on a year-on-year basis.

Colgate-Palmolive fell by nearly 3 per cent to its intraday low of Rs. 1,033.15 per share on BSE Tuesday. The stock hit an intraday high of Rs. 1,063 per share on BSE and witnessed a spurt in volume by more than 1.60 times. The stock had hit its 52-week high of Rs. 1,175.50 per share on September 13, 2017 and its 52-week low of Rs 861.90 per share on December 27, 2016 on BSE, respectively.

At 1304 hours IST, the stock was trading at Rs. 1,042.50 per share, lower by 1.98 per cent on BSE. Meanwhile S&P BSE Sensex was trading at 32,584.63 level, lower by 0.15 per cent and NSE Nifty50 was trading at 10,219.40 level, lower by 0.11 per cent on Tuesday.