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The top-line for March 2017 quarter grew 6% at Rs 573.87 crore. OPM has inclined by 230 bps to 26.8%. The net profit has increased by just 3% to Rs 99.63 crore due to increase in effective tax rate.
Performance for the quarter ended March 2017
The top-line grew 6% at Rs 573.87 crore. OPM has inclined by 230 bps to 26.8% due to decrease in other expenses to adjusted net sales. The operating profit increased by 15% to Rs 153.75 crore.
Other income decreased by 2% to Rs 23.15 crore. Interest cost increased by 80% to Rs 1.33 crore. Depreciation inclined by 15% to Rs 14.19 crore. PBT has increased by 12% to Rs 161.38 crore.
The tax outgo inclined by 32% to Rs 61.75 crore. The effective tax rate inclined from 32.5% to 38.5%. As a result, the net profit has increased by just 3% to Rs 99.63 crore.
Performance for nine months ended March 2017
The top-line inclined by 4% to Rs 1817.53 crore. OPM has inclined by 370 bps to 29.4%. The operating profit increased by 19% to Rs 533.51 crore.
Other income increased by 2% to Rs 66.47 crore. Interest cost increased by 16% to Rs 6.01 crore. Depreciation inclined by 2% to Rs 40.08 crore. PBT has increased by18% to Rs 553.89 crore.
The tax outgo inclined by 29% to Rs 199.20 crore. The effective tax rate increased from 33% to 36%. The net profit has increased by 13% to Rs 354.69 crore due to increase in margin.
Other Developments
The Board of Directors has declared a special interim dividend of Rs. 362/- per Equity Share.
The company has consistently delivered balanced growth in recent years behind brand fundamentals, strength of product portfolio and improved in-store execution. This year, the company also completed three decades of local manufacturing in India for its flagship brand Whisper. The dividend demonstrates the company's intent to reward shareholders for strong results in a competitive market environment.
Promoters holding and valuation
The promoters hold 70.64% stake in the company
The shares of the company are trading around Rs 7730 at BSE.
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