Ponds India Ltd has declared an interim dividend of 95 per cent for the year ending December 31, 1997 and has fixed October 1, 1997 as the record date for the purpose.
At its board meeting held yesterday, the company announced its net sales (unaudited) had gone up to Rs 200 crore for the half-year ended June 30, 1997, up from Rs 182 crore recorded in the previous corresponding period.
Net profit has also gone up to Rs 18 crore for the same period (Rs 15 crore).
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Total expenditure has grown from Rs 158 crore in the first half of last year to Rs 192 crore in 1997. Interest costs came down by 25 per cent to Rs 0.45 crore as against the first six months of last year.
After setting aside Rs 1.8 crore towards depreciation (Rs 1.6 crore) and providing for tax Rs 8.8 crore (Rs 8.1 crore), the company has reported a profit after tax (PAT) of Rs 18.4 crore - 24 per cent higher than that achieved in the first six months of 1996.
In the skin care products segment, sales volume has doubled in 1997, as against the first six months of 1996. In the deodorant segment, growth in volume terms was a whopping 200 per cent.
Exports grew by a modest 8 per cent to touch Rs 55 crore. Leather products, especially the garments division, has reported a 15 per cent growth in volumes, while full shoe exports commenced during the current year.
The thermometer division also posted a 12 per cent growth in volumes as against the previous half year.