FMCG firm Marico today said its consolidated net profit rose
by 9.68 per cent to Rs 85.87 crore for the second quarter ended September 30
due to strong sales growth in the consumer products business. It had posted net
profit of Rs 78.29 crore in the corresponding period of previous fiscal, Marico
Ltd said in a filing to the BSE.
Net sales of the company rose to Rs 1,155.89 crore during
the July-September quarter of 2012-13 fiscal, as compared to Rs 967.40 crore in
the same period last fiscal. Marico's board, which met today, approved interim
dividend of 50 per cent on its equity share capital of Rs 64.45 crore.
The company said the recently acquired youth brands -- Set
Wet, Zatak and Livon grew by 28 per cent over their turnover in second quarter
of FY12. Marico Consumer Products Business CEO Saugata Gupta said: "We are
happy about the way the integration of the acquired Youth brands is panning
out. These are strong brands and we expect them to continue to record healthy
growth rates."
Its consumer products business (CPB) achieved a turnover of
Rs 793 crore during the quarter - up about 19 per cent over same period of
2011-12 fiscal. The turnover achieved from the youth brands during the quarter
stood at Rs 46 crore during the second quarter ended September 30, 2012, the
company said.
During second quarter of 2011-12 fiscal the business was
being run by Reckitt Benckiser, it added.
"Marico's focus on building a well-entrenched consumer
brand franchise is paying off. Our brands have continued to deliver volume
growths and gain market share across categories," Marico Group CFO Milind
Sarwate said.
During the quarter under review, the company's international
business, focused largely on Bangladesh, MENA (Middle East and North Africa),
South Africa and South East Asia, registered a growth of 16 per cent over
corresponding period of previous fiscal.
Marico scrip was down Rs 204.45 on the BSE, down 4.37 per
cent from its previous close.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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