Qudsia Bano

The revenues of Colgate Palmolive Pakistan Limited, the maker of personal care products, increased 36% to Rs25.5 billion in the first quarter of the ongoing financial year (1QFY23) from Rs18.79 billion in the same period of the previous fiscal. The increased revenue translated into a 23% increase in gross profit, which clocked in at Rs4.75 billion in 1QFY23 compared to Rs3.85 billion recorded in 1QFY22. Similarly, the company posted a net profit of Rs1.7 billion in 1QFY23 compared to a profit of Rs1.48 billion over the corresponding period of FY22, showing a growth of 15% year-on-year, reports WealthPK.

Performance in 2021-22

During the fiscal year 2021-22, the company’s gross sales jumped to Rs82.4 billion from Rs67.5 billion in FY21, posting an increase of 22% year-on-year.   The gross profit for FY22 stood at Rs16 billion, up 8% from Rs14.8 billion in FY21. However, the profit-after-tax for the year saw a paltry 3% increase to Rs5.87 billion from Rs5.67 billion in FY21.

As of June 30, 2022, associated companies owned major chunk of 59% shares of the company followed by ‘others’ category at 35.46%, directors, the chief executive officer, their spouses and minor children 4.52%. and the general public (local) segment owned 1.01% shares, respectively.

Earnings per share and profitability

The earnings per share of the company in 2020 improved to Rs84.54 from Rs61.01 in 2019. In 2022, the EPS stood at Rs80.66. Similarly, the net profit margin of the company also showed positive growth in recent years. The net profit margin stood at 11.23% in 2021 before slightly decreasing to 9.42% in 2022.

About the company

Colgate-Palmolive Limited was established in Pakistan as a public limited company on December 5, 1977, under the name of National Detergents Limited. On March 28, 1990, it entered into a participation agreement with Colgate-Palmolive Company, USA, and the name of the company was changed to Colgate-Palmolive (Pakistan) Limited. The company primarily produces and sells detergents, personal care products and other related goods.

Credit : Independent News Pakistan-WealthPk