Nirma sparkles on decent second quarter numbers

DALAL STREET SPIKES

Nirma, country's leading player in the detergents, toilet soaps and iodized salt market jumped by Rs 18 to close at Rs 451 on the back of strong bottomline growth in the second quarter of FY06.

Though the year-on-year net sales fell, the net profit nearly doubled to Rs 99 crore compared with Rs 45 crore in the corresponding quarter last year.

This was largely due to a steep fall in the tax outgo and curb in expenditure accompanied with lower interest payments.