New Delhi, Oct. 24
DABUR India Ltd (DIL) today said it has registered a 20.6 per cent growth in net profit at Rs 52 crore for the second quarter this fiscal.
The company's board also approved a 150 per cent dividend and one bonus share per share held.
The company registered nine per cent growth in total income, which translates into Rs 332.94 crore, compared with Rs 305.55 crore in the corresponding period last year.
"The board felt that the current capital base of the company was not commensurate with the existing size and future potential of the business. We feel the bonus issue was long overdue to our investors,'' said the DIL Chairman, Mr V.C. Burman.
The board also proposed an increase in the authorised share capital of the company from the existing Rs 50 crore to Rs 125 crore, a company statement said here.
"The authorised share capital is being increased primarily to fund the increase in paid-up capital on account of bonus issue and to meet future requirements. We would be seeking shareholders approval for these announcements through postal ballot by January,'' the DIL Group Director, Mr P.D. Narang, said, adding that the record date for the bonus would be declared within next few weeks.
Dabur India has paid-up capital of Rs 28.66 crore as of September 30, which would be increased to Rs 57.3 crore after the bonus issue.
The record date for the payment of dividend has been finalised as October 31, 2005. The total outgo towards the dividend (before tax) will be Rs 42.99 crore, the company statement said.
DIL registered 53 per cent growth in its consolidated net profit, which went up from Rs 64.89 crore to Rs 99.28 crore during the first half of current fiscal, it said.
The Balsara business, which the company had acquired some time ago, became intrinsically profitable and recorded a turnaround with a Rs 7.3-crore profit. Dabur's foods and international business posted healthy growth with 48.3 per cent and 20.1 per cent increase in sales respectively, the statement said.
Healthcare business gained momentum and recorded a 32.3 per cent increase during the period, the CEO, Mr Sunil Duggal, said.