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Thursday, Jan 22, 2004

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Wipro Consumer earns higher revenues in Q3

Our Bureau

Bangalore , Jan. 21

AIDED by a good monsoon and strong rural demand, Wipro Ltd's Consumer Care and Lighting business has seen a 27 per cent growth in revenues for the quarter-ended December 31, 2003. Revenues from the consumer care and lighting division increased to Rs 94.9 crore during the quarter, against Rs 74.5 crore in corresponding quarter last year.

"Our consumer and lighting business is back in growth phase," said the Wipro Chairman, Mr Azim Premji, adding that a good monsoon and pick-up in rural demand has helped the company to increase its sales. The consumer care and lighting business accounted for 6 per cent of Wipro's revenues and 5 per cent of its operating income for Q3FY04.

Mr Vineet Agrawal, President, Wipro Consumer Care and Lighting, said that his division has been growing successfully over the last four quarters. Commenting on the recent deal with Chandrika family to acquire the long-term lease rights of the soap brand `Chandrika,' Mr Agrawal said that the agreement would be finalised in March and the details would be announced then. Wipro expects to take up the distribution of Chandrika soap by April, he said.

Mr Agrawal also mentioned that the Santoor brand soap of Wipro has become a leader in the market and sales have touched Rs 150 crore.

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