Nirma 2QFY2000 net profit surges 23% - Views on News from Equitymaster

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Nirma 2QFY2000 net profit surges 23%

Oct 21, 1999

Detergents major Nirma Limited has reported a significant 23% growth in net profit to Rs 100 m in the second quarter ended September 30, 1999. Sales zoomed 20% to Rs 4,053 m during the same period.

(Rs m) 2QFY2000 2QFY1999 Change
Sales 4,053 3,383 19.8%
Other Income 89 62 44.5%
Total Expenditure 2,650 2,355 12.5%
Interest 70 91 -23.2%
Depreciation 79 76 4.2%
Profit before Tax 727 434 67.4%
Tax 84 45 87.6%
Profit after Tax 100 82 22.5%

Interest costs were pruned by a significant 23% to Rs 70 m. Total expenditure however, increased to Rs 2,650 m (up 13% over 2QFY2000). The company's overall first half performance was even more impressive. Net profit was up by a whopping 67% to Rs 1,155 m during 1HFY2000. Sales improved by 26% to Rs 8,246 m.

The company's backward integration strategy seems to be bearing fruit. It is likely to have more control over cost of its raw materials and hence allow it to keep its pricing points affordable.

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