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Godrej Soaps: back in the black - Views on News from Equitymaster
 
 
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  • Oct 22, 1999

    Godrej Soaps: back in the black

    Godrej Soaps has reported a net profit of Rs 395 m in second quarter ended September 30, 1999. The company had posted Rs 87 m a a loss during the corresponding period in FY99. The company is now back in the black. The company's income from operations declined by 3% to Rs 2,274 m during the same period. It should be noted that income from operations also includes Rs 509 m earned as profit from the sale of company's 22.5% stake in Godrej Sara Lee joint venture to its group company Godrej & Boyce Limited.

    (Rs m) 2QFY2000 2QFY1999 Change
    Net Sales 2,274 2,335 -2.6%
    Other Income 4 4 11.1%
    Expenditure 1,617 2,208 -26.8%
    Interest 167 162 3.3%
    Depreciation 54 56 -3.0%
    Profit before Tax 439 (87)  
    Tax 44 -  
    Profit after Tax 395 (87)  
    Net profit margin 17.4% -  
    The company wanted to retire its high cost debt in a bid to reduce its interest burden through the divestment of Sara Lee stake. Though the interest outgo has increased marginally by 3% to Rs 167 m in the second quarter, the interest burden is likely to reduce in the third quarter results.

     

     

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