Date:26/10/2005 URL: http://www.thehindubusinessline.com/2005/10/26/stories/2005102602790700.htm

Back Marico consolidated net up at Rs 20 cr

Our Bureau

Mumbai , Oct. 25

MARICO Ltd has reported a 24 per cent increase in profit after tax at Rs 20.2 crore in its consolidated operations.

The turnover, at Rs 277 crore, was up by 8.4 per cent over the year-ago period. The company said its high margin portfolio (including Kaya and Sundari) grew 12 per cent to touch 71 per cent of the total turnover.

"Marico's turnover growth largely reflects volume growth, since unit sales realisations have remained similar to those in the previous year,'' the company said in a news release.

The company's board has declared a second interim dividend of 14 per cent.

"With a strong underpinning of investment in new products and discontinuous growth, both in India and abroad, we will continue to offer increasing value-add to both our consumers and our stakeholders,'' a release said quoting Mr Harsh Mariwala, Chairman and Managing Director.

In the domestic market, Parachute Coconut Oil, the flagship brand, grew 9 per cent in volume terms and maintained its market share above 50 per cent. The high margin slice of the hair care range (Parachute Jasmine, Shanti Badam Amla and Hair & Care being the key elements) grew 7 per cent in volume.