India's Colgate Palmolive drops on quarterly profit fall

Shares of toothpaste maker Colgate-Palmolive COLG.NS fall 3.4% to 2,209 rupees

Co's PAT falls 7.2% Y/Y to 3.28 billion rupees ($37.32 million), rev down 6.3% Y/Y

Goldman Sachs says revenue decline partly due to GST transition, but underlying trends also weak

Adds, COLG underperforming peer Hindustan Unilever HLL.NS in toothpaste category

JP Morgan downgrades to "neutral", cuts PT to 2,400 rupees from 2,625 rupees

Says volumes to recover in second half of fiscal but will likely remain weakest among peers

Stock rated "hold" on avg by 31 analysts covering it; median PT at 2,440 rupees- data compiled by LSEG

YTD, COLG down ~18% vs HLL's 8% rise

($1 = 87.8950 Indian rupees)