Marico Inds net up 14 per cent

Mumbai, January 25: | Updated: Jan 26 2002, 05:30am hrs
Marico Industries Ltd has posted a 14.03 per cent rise in net profit at Rs 11.54 crore for the third quarter ended December 31, 2001, compared to Rs 10.12 crore in same period last year.

The board has declared a third interim dividend of Rs 3.50 per share for the financial year 2001-02, taking the total to Rs 9 per share. Total income in the reporting quarter grew at Rs 176.51 crore as against Rs 170.12 crore in same period of last year.

Marico, in a release said that on consolidated basis the net profit before deferred taxation provision grew by 29 per cent at Rs 13.4 crore.

The net profit after considering the charge on account of deferred taxation was at Rs 11.9 crore, a growth of 16 per cent, it added.

The company said that its coconut oil and hair oil franchises continued to display volume growths despite tough market conditions. New products recently launched continued to perform well. The share of new products in turnover more than doubled to around 11 per cent in the nine month period ended December 31, 2001 as against five per cent in the same period the previous year.

The company added that market shares of most of Marico’s brands have been steadily rising. For January to December 2001, market share of coconut oil franshise was marginally up at 55 per cent. The market share of refined oils and non-sticky hair oil were about 12 per cent and 21 per cent respectively.