Nirma posts 25 % profit growth in 2002-03

Tuesday, 10 June 2003, 19:30 IST
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AHMEDABAD: Consumer goods maker Nirma Ltd. said Monday the company had managed to maintain its growth curve in the financial year 2002-03 by posting a six percent sales growth and 25 percent jump in net profit. The board of directors has recommended an enhanced dividend of 40 percent for the last fiscal year, up from 35 percent in 2001-02. The city-based company registered gross sales of 24.16 billion during the year ending March 31, 2003, reflecting a growth of six percent against 22.76 billion in the previous year, a company release said. Though the gross profit is marginally down at 5.15 billion from 5.17 billion in 2001-02, the company was able to lower the interest burden from 1.06 billion to 560 million. Depreciation for the year under review was 1.25 billion, compared to 1.22 billion in the previous year. As a result, the net profit (pre-exceptional) for 2002-03 was 2.31 billion, up by 25 percent from previous year's figure of 1.85 billion.
Source: IANS