Marico has reported results for third quarter ended December 31, 2012.
The company has registered a rise of 26.10% in its net profit at Rs 110.16 crore in Q3FY13 as compared to Rs 87.36 crore in the corresponding quarter previous year. The total income of the company has increased by 15.72% to Rs 895.83 crore for the quarter under review as compared to Rs 774.14 crore in the same quarter last year.
The company, on consolidated basis, posted growth of 21.61% in its net profit at Rs 102.29 crore for the quarter as compared to Rs 84.11 crore for the same quarter in the previous year. Total income of the company increased by 10.99% at Rs 1176.71 crore for quarter under review as compared to Rs 1060.14 crore for the quarter ended December 31, 2011.
The company, on May 29, 2012, concluded the effective acquisition of the personal care business of Paras Pharmaceuticals (PPL) for a consideration of Rs 74,560 lakh. The acquisition was effected through Marico Consumer Care (MCCL), a wholly owned subsidiary of the company. MCCL was incorporated on April 20, 2012 and acquired 100% equity stake in Halite Personal Care (Halite) from Halite's erstwhile owners. The personal care business had been demerged from PPL into Halite effective March 1, 2012 under a scheme of amalgamation and arrangements approved by the High Court of Punjab and Haryana.
The acquisition of Halite by MCCL resulted into Goodwill on consolidation of Rs 11,060 lakh, which is the excess of the consideration, paid over the net worth of Halite on the date of acquisition. The said net worth includes goodwill of Rs. 61,610 lakh which under the aforesaid Court Scheme shall be tested for impairment. The consolidated financial results of Marico for the quarter and nine months ended December 31, 2012 include the financial results of MCCL and Halite from the relevant dates and hence are strictly not comparable with previous period / year figures.
| Company Name | CMP |
|---|---|
| Nestle | 2163.85 |
| Britannia Inds | 4700.90 |
| Varun Beverages | 612.20 |
| Marico | 628.25 |
| Hatsun Agro Product | 1017.85 |
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