Business Daily from THE HINDU group of publications
Friday, Jan 25, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Jan 25, 2008 ePaper | Mobile/PDA Version |
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Corporate Results
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Personal Products Marico net profit rises 30% Mumbai, Jan. 24 Marico Ltd has posted a 30 per cent increase in net profit for the third quarter ending in December. Profits have risen from Rs 30.7 crore to Rs 40.2 crore during the same quarter. Net sales have also increased from Rs 353.8 crore to Rs 415.5 crore in the same time period. According to company officials, the profit is attributed to growth in all its businesses, across sectors, including inorganic and organic brands.The segments facing margin pressure have been categories such as soaps due to its dependence on oils as an input, the company said. The FMCG company has also informed the BSE that the Corporate Governance Committee of the Board of Directors has granted 1,19,800 stock options to certain eligible employees pursuant to the existing Marico Employees Stock Options Scheme 2007. The grant price is Rs 59.10 per option. The vesting period and the exercise period both range from 1 year to 5 years. In all, 89,96,000 options, comprising about 1.48 per cent of the current paid-up equity capital of the company, have been granted under the scheme till date. This is within the overall limits approved under the scheme. - Our Bureau
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