Karachi: Colgate-Palmolive (Pakistan) Limited has reported a significant rise in its net profit and comprehensive income for the third quarter ended September 30, 2024.
The company disclosed to the Pakistan Stock Exchange that its net profit after taxes reached Rs 5.10 billion for the quarter, marking a substantial increase from Rs 3.70 billion in the same period last year. The total comprehensive income for the quarter also stood at Rs 5.10 billion, reflecting the robust financial performance.
The turnover for Colgate-Palmolive was reported at Rs 40.15 billion, an increase from the previous year's Rs 36.49 billion, demonstrating a strong growth in market demand. According to information available from the Pakistan Stock Exchange (PSX), the net turnover, after accounting for sales tax and other discounts, was Rs 30.00 billion, up from Rs 27.68 billion in 2023.
Cost of sales was a significant expense at Rs 19.20 billion, but the gross profit reached Rs 10.80 billion, improving from Rs 8.39 billion the year before. The company managed its expenses effectively, with selling and distribution costs and administrative expenses amounting to Rs 3.15 billion and Rs 348.97 million, respectively.
Earnings per share also saw a positive uptrend, with basic and diluted earnings per share climbing to Rs 21.02 from Rs 15.24 in the prior year, indicating enhanced profitability and shareholder value.