Financial Daily from THE HINDU group of publications
Friday, Jul 23, 2004
Financial Daily from THE HINDU group of publications Friday, Jul 23, 2004 |
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Corporate Results
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Dairy & Dairy Products Marico Ind Q1 profit at Rs 16 cr; to pay 10 pc interim Our Bureau
Mumbai , July 21 MARICO Industries Ltd has ended the first quarter of 2004-05 with a net profit of Rs 15.94 crore against Rs 14.62 crore in the year-ago period. Net sales moved up to Rs 231.87 crore from Rs 203.16 crore. In its consolidated operations, Marico recorded a 17 per cent increase in turnover at Rs 244 crore and a 23 per cent rise in profit after tax at Rs 17.4 crore. The board announced a first interim dividend of 10 per cent. The company said its focus on high margin products helped volume grow by 22 per cent. Volumes grew across categories - Parachute Coconut Oil by six per cent; hair oils Parachute Jasmine, Shanti Amla and Hair & Care by 10 per cent. Saffola volumes moved up by 11 per cent, helped by the launch of Saffola Gold. The international business reported a turnover growth of 32 per cent. ``We have strengthened our business fundamentals by investing in new products and businesses, realigning our portfolio and creating a pipeline of new business and product ideas through prototypes,'' Marico said in a news release quoting its Chairman and Managing Director, Mr Harsh Mariwala.
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