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Business Standard
a day ago
- Business
- Business Standard
Colgate Palmolive India Q1 results: Net profit down 11.9% as sales drop
Colgate Palmolive India's Q1 net profit fell 11.9%, with revenue dropping 4.2%, driven by weak urban demand and heightened competition The oral care major saw its revenue fall to Rs 1,434.1 crore, down 4.2 per cent compared to the same period last year, with its net profit standing at Rs 320.6 crore. BS Reporter Mumbai Colgate Palmolive India saw its net profit drop 11.9 per cent in the quarter ended June, on the back of weak urban demand, a high base, and elevated competitive intensity. The oral care major saw its revenue fall to Rs 1,434.1 crore, down 4.2 per cent compared to the same period last year, with its net profit standing at Rs 320.6 crore. In its earnings release, Prabha Narasimhan, Managing Director & Chief Executive Officer of Colgate-Palmolive (India), said, 'Our Q1 results reflect persistent headwinds from tough operating conditions on account of subdued urban demand and elevated competition intensity. The current quarter's performance is also influenced by cycling a high base from the previous year; net sales grew at a 12 per cent compound annual growth rate (CAGR) in the base year same period (Q1 FY23-Q1 FY25).' She also mentioned that the company continued to work towards executing its strategic priorities. 'We have made good strides in category premiumisation, with our premium portfolio delivering strong revenue growth. We also prioritised brand investment, leveraging our healthy profit margins. We expect to navigate the current challenges and anticipate a gradual recovery in the back half of the year,' she added.
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Business Standard
2 days ago
- Business
- Business Standard
Post QIP, SBI's CET1 capital rises to 11.5%; LIC invests ₹5,000 crore
SBI's recent QIP was oversubscribed 4.5 times, raising Rs 25,000 crore and boosting CET1 capital to 11.5%. LIC invested Rs 5,000 crore, increasing its stake in SBI to 9.49% premium BS Reporter Mumbai Listen to This Article The recently concluded State Bank of India's qualified institutional placement (QIP) was oversubscribed 4.5 times and increased common equity tier-I (CET1) capital to 11.5 per cent from 10.81 per cent, the lender said in a statement. SBI raised ₹25,000 crore through the QIP, marking the largest such fundraising ever by an Indian entity.
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Business Standard
5 days ago
- Business
- Business Standard
Private sector bank chiefs take home hefty compensation cheques in FY25
Public sector banks' chiefs trail far behind, with the chairman of SBI, India's largest lender, earning a fraction of what private sector banks' chief executives make BS Reporter Mumbai Listen to This Article The heads of private sector banks earned hefty compensation in FY25, with HDFC Bank's managing director and chief executive officer (MD and CEO) Sashidhar Jagdishan and Kotak Mahindra Bank's MD and CEO Ashok Vaswani emerging as the top earners. In FY25, Jagdishan of HDFC Bank, India's largest private sector lender, earned ₹12.06 crore, up 12 per cent from last financial year. He has also been allotted 212,052 shares in Employee Stock Options (ESOPs) by the bank in FY25, the bank's annual report for the fiscal year showed. Jagdishan drew a remuneration of ₹10.77 crore in FY24. He was the highest
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Business Standard
02-06-2025
- Business
- Business Standard
RBI documentary series premieres on JioHotstar with first of five parts
The five-part series on the Reserve Bank of India explores its 90-year journey, covering its vision, achievements, and the critical roles it plays in India's economy BS Reporter Mumbai The first of the five-part documentary series on the Reserve Bank of India premiered on JioHotstar on Monday night, showcasing the 90-year journey of the Indian central bank. Each of the episodes will run for 25–30 minutes, according to the Request for Proposal for production and distribution of the web series floated in July last year. The estimated cost of the project was Rs 7 crore. The main objective of the series is to provide an in-depth exploration of the RBI functions and operations over its 90-year journey. It highlights the central bank's vision and mission, showcases its significant achievements and initiatives, and provides insights into ongoing developments and collaborations. The episodes delve into the critical roles of the central bank, including its efforts in maintaining financial stability, fostering economic growth, and promoting financial inclusion. JioHotstar has been running promos during Indian Premier League matches, where some of the episodes are captioned 'RBI Unlock: Beyond the Rupee' and 'Inside a Currency Press'.
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Business Standard
19-05-2025
- Business
- Business Standard
Emirates NBD gets RBI in-principle nod to set up wholly owned subsidiary
Dubai-based Emirates NBD has received RBI's in-principle approval to convert its three India branches into a wholly owned subsidiary to deepen domestic banking services BS Reporter Mumbai
