Sensex dips 160 pts; IOC top Nifty gainer, Colgate up 5% on Q1 nos

Epic Research Update : Colgate Palmolive
IOC share price rallied more than 6 percent after revenue in Q1 increased to Rs 1.28 lakh crore from Rs 1.22 crore on sequential basis.

Numbers barring GRM beat analysts’ expectations. Profit stood at Rs 4,548 crore against a CNBC-TV18 poll of Rs 3,013 crore.

Operating profit at Rs 7,999 crore (up 81.4 percent QoQ) and margin at 7.6 percent (4.4 percent QoQ) against expectations of Rs 6,213 crore and 6.5 percent, respectively.

Colgate Palmolive’s first quarter net profit grew by 8.5 percent to Rs 136.4 crore from Rs 125.7 crore on strong operational performance.

Revenue declined 2.7 percent year-on-year to Rs 1,118 crore, with volume degrowth of 5 percent (against estimates of 6-8 percent degrowth).

Operating profit during the quarter increased 5 percent to Rs 222 crore and margin expanded by 190 basis points to 22.7 percent.

Colgate has market share of 54.3 percent in toothpaste segment.
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