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Marico's net declines 12% - Views on News from Equitymaster
Marico Industries has posted a 12% decline in net profits during the quarter ended 31st December 1999. The company has posted stagnant operating margins. However a rise in finance charges and depreciation expenditure has reduced the overall profitability of the firm.
The net profit margins have declined to 4.5% during the quarter. The company has accounted for an extraordinary income of 17.8 m during the quarter. Ignoring this, the company has suffered a sharp fall in profitability.
(Rs m)
3QFY2000
3QFY1999
Change
Net Sales
1,721.0
1,543.7
11.5%
Other Income
1.9
2.4
-22.7%
Total Expenditure
1,581.6
1,418.5
11.5%
Finance Charges
15.7
12.9
21.1%
Depreciation
19.5
13.2
47.3%
Profit before Tax (including extraordinary item)
88.4
101.4
-12.9%
Tax
10.5
13.3
-21.1%
Profit after Tax/(Loss)
77.9
88.1
-11.7%
Net profit margin (%)
4.5%
5.7%
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