Marico PAT grows 23% at Rs 31 crore

CORPORATE SCORECARD

Consumer products company Marico posted a profit after tax (PAT) of Rs 30.70 crore for the quarter ended December, 2006, 23.14 per cent higher as compared with Rs 24.93 crore in the corresponding quarter last year.

Net sales and services for the period were higher by 29.41 per cent at Rs 353.88 crore as compared with Rs 273.44 crore in the period under review. Marico's turnover for the nine-month period ended December 2006 is Rs 1,035.92 crore, almost on par with its turnover for the same period last year at Rs 1,044.91crore.

The consolidated numbers, which include Marico's international business operations, showed a PAT of Rs 28.40 crore for the December 2006 quarter as compared with Rs 21.90 crore in the December 2005 quarter, higher by 29.68 per cent.

Net sales for the quarter were Rs 409.20 crore, higher by 36.16 per cent over Rs 300.52 crore for the last year's corresponding quarter.

Milind Sarwate, CFO, Marico, said about 20 per cent of the company's growth was organic and 15 per cent inorganic.

The board has announced a third interim dividend of Rs 1.70 a share or 17 per cent.

During the reporting quarter, the board approved a stock split of the Rs 10 shares into ten shares of Re 1 each. The company also raised Rs 151 crore through a private placement of 29 lakh equity shares during the quarter. Marico had acquired hair products brand HairCode in Egypt in December.