FMCG major Marico Ltd on Friday reported a 30% increase in net profit to Rs 28.4 crore for the third quarter ended December 31, 2006 (Q3FY-07) as against Rs 21.9 crore in the corresponding quarter of previous fiscal. Net sales were up by 36 % at Rs 409.2 crore as against Rs 300.5 crore. Maricos board also declared an interim dividend of 17% on its enhanced equity share capital of Rs 60.9 crore. Announcing the news, Harsh Mariwala, chairman & managing director of Marico Ltd said, With brand building efforts supporting our brands and services, we plan to sustain our profit growth in beauty and wellness space. Acquisitions could provide the additional growth drive. Maricos flagship brand Parachute Coconut Oil registered another quarter of double digit volume growth, while Saffola, edible oil brand, grew its franchise by 20 % in volumes.
Panacea net at Rs 27 crore
Biotechnology firm Panacea Biotec posted a net profit of Rs 27.1 crore during the third quarter ended December 31, up 422% as against Rs 0.52 crore during the corresponding period last year. Revenues grew 79% during the period to Rs 197.1 crore against Rs 110 crore in the same period of previous financial year. The Delhi-based companys vaccine segment grew 93% to Rs 1,50.7 crore while pharmaceutical formulations registered a growth of 47% to Rs 46.4 crore, a company statement said. During the nine months ended December 2006 the net turnover registered a 51% growth to Rs 604 crore as compared to Rs 401 crore during corresponding nine months of previous year. The net profit during the same period grew by 150% to Rs 123.4 crore, as compared to Rs 49.5 crore during the corresponding nine months of previous year.
Raymond net profit up 27%
Raymond Limited registered a 27% jump in net profit to Rs 38.37 crore in the quarter ended December 31, 2006, up from Rs 30.55 crore in the same quarter of the previous year. Net sales at Rs 297.25 crore is not comparable with the same quarter of last year since the results included the performance of the denim division which was hived off into a joint venture with UCO NV of Belgium in August 2006. Net sales, excluding the results of the denim division grew by 13%, the company said.
The textile division reported a 16% growth in operating profit driven largely by increased volumes of fabric sold, while the files division registered a 6% decrease due to increase in raw material costs and one time expenses incurred during the quarter.
The company has identified retailing as its thrust area for future growth in the branded textiles and apparel space. The company has embarked on an aggressive expansion plan for increasing its retail penetration and also entered into strategic partnerships with leading international players to enter into new product categories, said chairman & managing director Gautam Hari Singhania.
Bilt posts net at Rs 62.15 crore
Paper major Ballarpur Industries Ltd (Bilt) on Friday posted a net profit of Rs 62.15 crore in Q2 ended December 31, 2006, up 31% as compared to Rs 47.4 in Q2 last fiscal. Gross revenues stood at Rs 602.5 crore, up 22.6% from Rs 491.4 crore. Bilts shares on the Bombay Stock Exchange closed up 1.54% at Rs 118.40. The company is also contemplating another price hike on both coated and uncoated paper by 1.5% to 2% by March 2007. Paper sales for the period were recorded at 1,15,603 MT against 99,466 MT, while production stood at 1,14,723 MT against 1,00,372 MT a year ago. The performance for the quarter is mainly due to strong demand and price hikes the company has effected during the period, joint managing director R R Vederah said.
Asked about Bilts foray into paper retailing, Vederah said: we are planning to expand our branded stationery and related business, and expect the same to contribute upto 20% of in the targeted $1 billion revenues by 2010. The company is working out plans on its own as it does not intend to partner anybody. We are planning four company-owned outlets in NCR, Vederah added. Bilt currently has about 20,000 outlets and 250 stock keeping units (SKU) across the country for its branded stationeries and another 23 SKU for Etiquete brand of tissues.
Dabur Q3 net up by 24%
FMCG major Dabur India Ltd on Friday reported a 24 % rise in its Q3 net profit to Rs 71.73 crore as against Rs 57.97 crore in Q3 of last fiscal. Key drivers behind the growth were international business, foods, oral care, health supplements and home care.
We are moving forward on our plan to expand our existing product categories and new geographies, said Sunil Duggal, CEO, Dabur India.
The companys consolidated net profit in the quarter rose 22.08 % to Rs 79.27 crore while consolidated turnover in the quarter stood at Rs 617.59 crore, up 14.92 %. Total turnover in the quarter stood at 508.7 crore compared to Rs 404.84 crore in the corresponding quarter of previous fiscal, up 25.7%. Dabur Foods Ltd, a wholly-owned subsidiary of Dabur India, posted a 22.1 % increase in sales during the third quarter of this fiscal at Rs 49.20 crore from Rs 40.28 crore in the same quarter of previous fiscal.