Financial Daily from THE HINDU group of publications
Thursday, Jan 22, 2004
Financial Daily from THE HINDU group of publications Thursday, Jan 22, 2004 |
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Corporate Results
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Personal Products Marico Q3 net rises to Rs 14.74 cr Our Bureau
Mumbai , Jan. 21 MARICO Industries Ltd on Wednesday reported a rise in consolidated profit-after-tax for the quarter ended December 31, 2003 to Rs 14.74 crore as against the previous corresponding Rs 13.92 crore. Total revenues amounted to Rs 232.23 crore (Rs 206.25 crore). According to a company statement, Marico's consumer products business posted a 16 per cent growth in turnover at Rs 229 crore. "Overall, we are upbeat about Marico's long-term outlook,'' Mr Harsh Mariwala, Chairman & Managing Director, said. According to the statement, "Increased focus helped high margin products grow in volumes by 16 per cent in Q3. Market share of all key product categories was either held or improved during the 12 months ended November 2003. The new product portfolio continued its good run — its annualised turnover is now over Rs 150 crore or 18 per cent of consumer product business's turnover.'' In the third quarter, the international business grew by over 50 per cent and now contributes about eight per cent of Marico's consumer products business. For the nine-month period, Marico had a PAT of Rs 42.5 crore (Rs 40.42 crore) on total revenues of Rs 664.37 crore (Rs 584.63 crore). Its consumer product business posted a turnover of Rs 657 crore, up by 14 per cent.
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