Colgate-Palmolive (Pakistan) Ltd Reports Strong Growth in Q3 2023

Karachi: Colgate-Palmolive (Pakistan) Ltd has announced its financial results for the quarter ended September 30, 2023. The Board of Directors, in their meeting held on October 27, 2023, in Karachi approved the un-audited financial statements, which are detailed in Annexure ‘A’.

For the quarter ended September 30, 2023, the company reported a turnover of 36,494,361,000 Rupees, a significant increase from the 25,505,771,000 Rupees reported in the same period of the previous year. After accounting for sales tax and trade and other discounts, the net turnover stood at 27,683,066,000 Rupees, compared to 19,506,773,000 Rupees in Q3 2022. The cost of sales was reported at 19,296,190,000 Rupees, resulting in a gross profit of 8,386,876,000 Rupees, more than the 4,755,911,000 Rupees reported in the previous year.

Selling and distribution costs, administrative expenses, and other expenses for the quarter amounted to 3,435,091,000 Rupees. Other income was reported at 1,097,568,000 Rupees. Consequently, the profit from operations was 6,048,353,000 Rupees, a notable increase from the 2,617,195,000 Rupees in Q3 2022.

After accounting for finance cost and bank charges of 38,626,000 Rupees, the profit before taxation was 6,009,727,000 Rupees. The company incurred a taxation expense of 2,255,835,000 Rupees, including a current taxation charge for the quarter, a taxation charge for the prior year, and deferred taxation. This resulted in a profit after taxation of 3,753,892,000 Rupees, up from 1,717,522,000 Rupees in the same quarter of the previous year.

Other comprehensive income for the quarter was not disclosed. The total comprehensive income for the quarter stood at 3,753,892,000 Rupees, and the earnings per share – basic and diluted were reported at 15.24 Rupees.

The Quarterly Report of the Company for the period ended September 30, 2023, will be transmitted through PUCARS separately within the specified time.