Marico net profit rises 62% on the back of cross-segment growth

Marico net profit rises 62% on the back of cross-segment growth

Mumbai: Personal care products maker Marico Ltd on Wednesday said it posted a 61.8% rise in consolidated net profit for the quarter to September on healthy growth across all businesses.

The company reported a consolidated profit after tax of Rs42.2 crore during July-September, while revenue grew 23% to Rs460 crore. Its skin care clinic chain, Kaya Skin Care Ltd, recorded Rs24 crore in revenue—up 36% from last year and in July it raised the price of Parachute brand hair oil by 3% to offset input price increase. On a stand-alone basis, Marico reported a 43% rise in net profit to Rs38.11 crore on net sales of Rs386 crore in the quarter. Net sales grew 13%.

A Reuters poll of brokerages estimated stand-alone net profit at Rs39.4 crore, on net sales of Rs456 crore for the quarter. Shares in Marico closed at Rs61.70 —down 0.56% on Wednesday on the Bombay Stock Exchange. Reuters

Leelaventure Q2 net surges on other income

Mumbai: The hotel operator Hotel Leelaventure Ltd on Wednesday reported a 82% rise in net profit for the quarter to September, boosted by other income. It reported a net profit of Rs40.1 crore and revenue of the company grew 30.6%, to Rs100 crore during the quarter.

“In the present buoyant market, Leela is poised for much stronger growth in both the business and leisure segments in the immediate second half," Vivek Nair, vice-chairman and managing director, said in a statement.

The company plans to expand to 2,739 rooms across 10 locations in the next three years, from 1,114 rooms in four locations now.

During the quarter, it posted Rs17.6 crore in other income, backed by foreign exchange gains of Rs5.5 crore, the company said. Reuters

Hindustan Motors posts modest profit

Kolkata: Hindustan Motors Ltd on Wednesday reported a net profit of Rs28 lakh for the second quarter ended September, compared with a net loss of Rs5.38 crore for the corresponding period last year.

The company in a statement said it has registered a turnover of Rs189.05 crore during the period under review, against sales of Rs162.46 crore. PTI