INDIA: Marico blazes 39% profit growth H1 2001
Marico Industries has announced post tax profit growth of 39% for H1 2001, from US$3.85m to US$5.34m. Over the last decade, Marico has annually experienced compound growth of 28% on profits, and 22% on sales.A 9% growth in volume last year cancelled out the deflation in selling prices caused by a general recession in the vegetable oil market. Sales, meanwhile, grew marginally by 1%, to US$66.9m. With the phenomenal drop in the cost of raw materials, from US$41.6m to US$32.8m, and lower income tax, profits after tax rose 39% to US$5.34m.
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