Nobody expected the moon from Colgate-Palmolive (India) Ltd’s March quarter results. Expectations were muted to begin with but the oral care products’ company fell short of even the toned down expectations.
The impact of the covid-19 led disruption is evident in the numbers. The company’s revenues declined by 7% year-on-year to ₹1,071 crore.
Note that a Bloomberg poll of analysts had pegged the company’s revenues at ₹1,139 crore. For the March quarter, Colgate’s volumes declined 8% over the same period last year.
According to analysts from JM Financial Institutional Securities Ltd, “Colgate’s higher wholesale dependence (relative to some of the frontline FMCG peers) likely worked against it again during the current disruption, as was the