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Nirma net up 18 per cent to Rs 136.5 crore in H1 

Our Bureau  
Ahmedabad, Oct 18: Ahmedabad-based detergent giant Nirma Ltd has posted a 18.3 per cent rise in net profit to Rs 136.55 crore in the first half of the current financial year compared with a net profit of Rs 115.47 crore in the corresponding period of previous year. This translates into an earning per share of Rs 17.20 for the half year, on the enhanced capital of Rs 79.38 crore.

The company has registered 47 per cent rise in its gross sales to Rs 1,211.53 crore for the first half ended September 30, 2000, as against Rs 824.60 crore in the corresponding priod last year.

Profit before depreciation, interest and tax (PBDIT) of the company has grown 60.1 per cent to Rs 255.8 crore from Rs 159.8 crore last year.

The branded products of the company, soap and deteregent have experienced sales growth of over 36 per cent in the first half of the current year.

Adjusting for the business acquired from Kissan Industries, the growth in the branded products of the company is over 15 per cent in the first half. Detergent business of the company has registered a significant growth over 16 per cent in the first half due to various marketing initiatives of the company which includes new product launches and further strengthening of the distribution channels. The soap business has also grown at around 13 per cent, reflecting a consolidation of the Nima brand and the new distribution channel set up by the company over the last two years.

For the second quarter ended of the current financial year, the company has registered gross sales of Rs 563.45 crore, a growth of 39 per cent over Rs 405.3 crore in the corresponding period last year. PBDIT has grown 44.9 per cent to Rs 128.79 crore from Rs 88.88 crore last year and net profit at Rs 68.95 crore is up by 7.2 per cent in the second quarter from last year's figure of Rs 64.32 crore.

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