The Hindu Business Line : Marico net profit up at Rs 16.26 cr

THE Marico Group (listed on the BSE as Marico Industries) today reported a higher profit after tax of Rs 16.26 crore for the quarter ended September 30, 2004, as against the previous corresponding Rs 13.58 crore.

Its revenue from sales and services stood at Rs 255.48 crore (Rs 222.30 crore for the year ago period).

The company's consumer products business posted a PAT of Rs 18.64 crore (Rs 15.53 crore) on income from sales and services of Rs 250.55 crore (Rs 220.41 crore).

"New businesses - skin care services (Kaya Skin Clinics) and Global Ayurvedics (Sundari) - grew on planned lines and posted a combined turnover of about Rs 5 crore, although still in the investment phase. New products/businesses annualised turnover at Rs 177 crore is now about 18 per cent of the total," Marico's official statement said.

Kaya and Sundari returned losses of Rs 1.24 crore and Rs 1.15 crore on income from sales and services of Rs 3.81 crore (Rs 0.96 crore) and Rs 1.12 crore (Rs 0.92 crore) respectively.

According to the statement, Marico's international business clocked a turnover growth of 34 per cent. In Bangladesh, Parachute coconut oil consolidated its market leadership further with a share that is now 48 per cent (39 per cent).

International business is now about 10 per cent of Marico consumer products' business.

"Our consumer-centricity and focus on innovation have time and again helped us buck the FMCG industry trend of growth. We will keep up the momentum of our sustainable profitable growth journey as we continue to strengthen our value adding consumer products business while pursuing de-risked growth into services and newer geographies," Mr Harsh Mariwala, Chairman and Managing Director, Marico, has said.