The Hindu Business Line : Nirma Q3 net up at Rs 64 cr

This reflects a 21 per cent rise in net profit from Rs 53.17 crore in the corresponding period last year. The net sales of the detergents company were Rs 490.8 crore.

The cumulative net profit for the first nine months of the current fiscal stood at Rs 161.25 crore, up 23 per cent from Rs 130.77 crore last year. As the net profit for the full fiscal of 2001-02 was Rs 184.71 crore, it is expected that Nirma would be closing the current fiscal with an improved bottomline. The Ahmedabad-based company's gross sales during the third quarter were Rs 626.49 crore, up 14 per cent from Rs 579.34 crore. The company reduced its interest cost to Rs 13.13 crore from Rs 25.33, mainly on the strength of refinancing of existing debt and a continued stress on reduction in borrowings.

While depreciation stood at Rs 31.77 crore (Rs 29.99 crore), the company's profit-before-tax was at Rs 87.36 crore, up nearly 10 per cent from Rs 79.49 crore last year.

Nirma made total provision for taxation to the tune of Rs 22.87 crore - Rs 11.83 crore for current tax and Rs 11.04 crore for deferred tax.

The EPS during the third quarter was at Rs 8.10 as against Rs 6.70 in the previous year.

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