Financial Daily from THE HINDU group of publications
Sunday, Jul 31, 2005
Financial Daily from THE HINDU group of publications Sunday, Jul 31, 2005 |
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Financial Performance Corporate Results - Personal Products HLL reports 17 pc rise in Q2 net, to pay Rs 2.50 interim Our Bureau
Mumbai , July 30 HINDUSTAN Lever Ltd (HLL) appears to be bouncing back on to the growth path as it reported a net profit before exceptional items of Rs 300.47 crore for the June 2005 quarter, higher by 17 per cent from the year-ago period's Rs 256.40 crore. The increase in profitability was attributed to lower interest costs after redemption of bonus debentures and higher treasury income, Mr D. Sundaram, Director (Finance), HLL, said. Total sales grew by 10.3 per cent in June quarter and domestic FMCG sales by 12 per cent with both home and personal care (HPC) and foods businesses doing well. The board has recommended an interim dividend of Rs 2.50 per share. The company's profitability growth for June quarter is in sharp contrast to its performance for the March quarter. It had reported a 14.5 per cent decline in net profit for the March quarter of 2005. The revival in the FMCG market is urban-led while rural sales are steady, Mr Sundaram said. HPC segment recorded a 12 per cent growth on the back of sales in shampoo and laundry portfolios. Personal wash segment recorded modest growth with Lifebuoy growing while Lux declining. In foods, tea, coffee and ice cream sales improved while processed foods declined. Overall foods grew by 10.9 per cent. The company's net profit after exceptional item was Rs 281.65 crore (Rs 244.49 crore). The exceptional item was a loss of Rs 18.82 crore on the disposal of a subsidiary. Advertising and promotional spend for the June quarter jumped to Rs 286.57 crore from Rs 256.66 crore in the year-ago period.
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