Godrej: Upbeat

Mumbai, Jan. 22: Godrej Consumer Products Ltd (GCPL) has recorded a 45 per cent rise in its bottomline for the third quarter of the current financial year. Net profit jumped to Rs 26 crore from Rs 17.9 crore in the same period last year. Sales revenue (net of excise) rose 20 per cent to Rs 153.5 crore (Rs 128.3 crore).

For the nine-month period, net profit rose 33 per cent to Rs 60.8 crore (Rs 45.6 crore), while sales revenue (net of excise) was up 15 per cent at Rs 424.3 crore against Rs 367.6 crore in the same period last year.

Commenting on the results, Adi Godrej, chairman and managing director of GCPL, said, ?the results for the quarter reflect the company?s ability to deliver sustained growth with a focussed business approach. At GCPL, growth is being realised by expanding our value-for-money range for the consumer, expanding our reach and distribution and optimising efficiencies and cost structures across all our operations.

GCPL said its brands showed a 23 per cent growth in value terms during the quarter. The growth continued to be driven by its lead brands in the segment. While Cinthol performed strongly on the back of healthy consumer offtake, particularly of the Cinthol Deo and Cinthol Lime Fresh brands, all Godrej No.1 variants witnessed brisk sales. The company?s market share in this segment stood at 8.3 per cent.

As regards liquid detergents, the company said with the winter setting in, the sale of Ezee, its wool-wash detergent brand, is expected to pick up.

The reporting quarter saw vegetable oil prices, which were high during the first half of the current fiscal, declining. Contract manufacturing picked up during the period with revenues from this sector amounting to Rs 7.6 crore. For the nine-month period, revenues from contract manufacturing stood at Rs 19.2 crore.

Mixed fortunes

Bank of India today reported a 67 per cent decline in its net profit at Rs 75.03 crore for the quarter ended December 31, 2004, compared with Rs 228.54 crore in the year-ago period. The total income of the bank also declined by 6.4 per cent to Rs 1743.27 crore for the quarter ended December 31, 2004, from Rs 1862.05 crore for the same quarter last fiscal, the bank informed the Bombay Stock Exchange (BSE).

Corporation Bank today reported a 43 per cent growth in net profit at Rs 161.69 crore during the third quarter ended December 31, 2004 as against Rs 113.28 crore in the corresponding quarter in 2003. The total income of the bank grew by 15 per cent to Rs 772.52 crore during the October-December quarter this fiscal compared with Rs 673.57 crore in the year-ago quarter.

Torrent Pharma net

Torrent Pharma today reported a drop in net profit at Rs 5.26 crore for the third quarter ended December 31 against Rs 15.08 crore in the corresponding previous period.

Total income during the reporting quarter, however, grew to Rs 126.65 crore compared with Rs 108.89 crore in same period of 2003-04.