POND'S ADDS SHINE TO HLL
Article Abstract:
Hindustan Lever Ltd (HLL)'s performance for the year ended December 1998 has not crossed the analysts' expectations. HLL's net profit has touched Rs806 crore for the year ended December 1998 as against Rs800 crore expected by analysts. This is mainly due to inclusion of Pond's portfolio. Pond's was merged in HLL in January 1998. The net sales grew by 21 percent while operating margins increased from 9.7 percent to 10.8 percent. The main contributors to the improved performance are personal products, foods and exports. The merger of Pond's with HLL has helped HLL to record a good growth in its personal products division. (um)(psr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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MAFATLAL IND REPORTS Rs66-CR LOSS
Article Abstract:
Mafatlal Industries Ltd (MIL) incurred a loss of Rs65.55 crore in 1997-98 (Rs 14.53 crore loss in 1996-97). It incurred a gross loss of Rs51.10 crore. Net sales declined by six percent to Rs334.86 crore (Rs357.35 crore). Other income declined to Rs17.56 crore (Rs74.53 crore). Operating profit declined by 93 percent to Rs5.74 crore (Rs78.56 crore). The decline in profitability is attributed to a prolonged illegal strike at MIL's chemical division, Bhestan. (gsh)
Comment:
Incurs losses of Rs65.55 crore in 1997-98 vs Rs14.53 crore loss in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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