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Cadbury Q1 net up 18 pc

MUMBAI: Cadbury India Ltd has ended the first quarter of January-March 2001 with an 18 per cent increase in net profit at Rs 12.39 crore (Rs 10.50 crore).

``Despite sluggish market conditions, the company grew both in domestic and export markets,'' a press release said.

Net sales moved up to Rs 149.91 crore (Rs 139.34 crore). Other income increased to Rs 1.87 crore (Rs 1.72 crore).

Total expenditure was Rs 124.72 crore (Rs 119.05 crore). Advertising and marketing expenses rose to Rs 17.06 crore (Rs 14.44 crore).

Interest was Rs 0.59 crore (Rs 0.83 crore), depreciation at Rs 5.75 crore (Rs 4.98 crore) and provision for taxation at Rs 8.40 crore (Rs 5.54 crore).

``To combat the depressed market conditions, the company continued to focus on driving sales through a richer product mix favouring the core chocolate confectionery segment,'' the release said.

Favourable material prices, efficient materials procurement and substitution, reduced material wastage, factory efficiencies and improved logistics management resulted in higher gross profit, the release said. -- Our Bureau