InvestorQ : Hello, I hold shares of Canara Bank and Colgate Palmolive. Can you give quick update on the latest quarter results?
NISHA Nayak made post

Hello, I hold shares of Canara Bank and Colgate Palmolive. Can you give quick update on the latest quarter results?

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Priyanka N answered.
1 month ago
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It was a good set of numbers by Canara Bank. Revenues were up 14.6% at Rs27,538 crore on higher rates and good transmission resulting in better yields on investments and loans. Canara Bank saw growth in retail banking and the corporate banking revenues. Net profits were up 105.8% at Rs2,706 crore as gross NPAs fell from 8.44% to 6.37% yoy and net NPAs were down from 3.21% to 2.19%. The improved yields resulted in higher PAT margins at 9.89% in the Sep-22 quarter compared to 5.51% in Sep-21 quarter and 9.18% in June 2022 quarter. Capital adequacy ratio was 16.58% with Tier1 Capital ratio at a healthy 11.23%.

Let me now turn to the other stock of Colgate Palmolive. Sales were up 2.6% at Rs1,387.48 crore for Q2FY23. While there was the festive season sales pick-up, ecommerce channel showed good traction, but rural sales lagged on weak volumes due to sharply higher inflation. Colgate Max and Colgate Active Salt did robust numbers. Net profits were up 3.3% at Rs278 crore as lower manpower costs and better operating cost management helped numbers. Despite inventory cost pressures, PAT margins at 20.04% in Q2FY23 bettered NPM at 19.9% in Q2FY22 and at 17.52% in Q1FY23. Interim dividend is Rs18 per share.

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