Marico PAT rises 8%

CORPORATE SCORECARD

Partly boosted by its acquisitions in India and Egypt, Marico delivered a 37 per cent increase in net sales for the quarter ended September 30, 2006.

"While organic growth was 26 per cent, the newly acquired brands (Nihar and Fiancee in Egypt) contributed to a growth of 11 per cent," said Harsh Mariwala, CMD, Marico.

Marico posted a profit after tax of Rs 26.70 crore for the quarter ended September 30, recording a 7.53 per cent rise over a net profit of Rs 24.83 crore in the corresponding quarter last year.

Net sales and revenue from services (Kaya Skin Clinics) for the quarter stood at Rs 341.20 crore, 35.11 per cent higher than the corresponding quarter last year (Rs 252.53 crore).

For the Marico group, which includes its subsidiaries in Bangladesh and the Middle East, the profit after tax was Rs 26.11 crore for this quarter, 33.76 per cent higher as compared with Rs 19.52 crore for the corresponding quarter last year.

Consolidated net sales and services for the quarter were at Rs 377.98 crore as compared with Rs 274.99 crore last year, higher by 37.45 per cent.

The marginal dip in group profits is on account of Sundari, the international spa business, still in the investment phase.

The company has announced an interim dividend of 15 per cent or Rs 1.50 on its equity shares of Rs 10. Marico's hair oil in rigid packs has posted a growth of 33 per cent during the quarter.

Kaya, the company's skin solutions business, posted a turnover of Rs 17.4 crore during the quarter, a 58 per cent growth over the corresponding quarter last year.