Nirma’s H1 PBDT jumps 16% to Rs 104 crore, net spurts 25%

Mumbai: Nirma’s profit before depreciation and tax (PBDT) has jumped by 16 per cent from Rs 89.82 crore for the corresponding period of the previous year to Rs 104.31 crore during the second quarter of the current financial year.

The company has registered gross sales of Rs 547.93 crore during the second quarter - a growth of 2.3 per cent over Rs 535.5 crore in the corresponding period of the previous year. The interest cost has declined significantly from Rs 30.3 crore to Rs 12.97 crore, while the depreciation charge has increased marginally to Rs 31.89 crore against Rs 31.04 crore.

The provision for tax has gone up by 25 per cent from Rs 8.77 crore to Rs 11 crore. The provision for the deferred tax for the quarter under review has been Rs 8.62 crore. The net profit for the second quarter of the current financial year has increased by 49.5 per cent to Rs 51.49 crore against Rs 34.43 crore in the corresponding period of the previous year. The earnings per share (EPS) for the second quarter of FY-2003 has increased to Rs 6.49 from Rs 4.34.

During the first half of FY-2003, the PBDT has risen by 18 per cent to Rs 215.76 crore from Rs 183 crore in the corresponding period of the previous year. The net profit for the period under review has grown by 25 per cent from Rs 77.6 crore to Rs 96.94 crore. The EPS for the first half of FY-2003 has increased to Rs 12.21 from Rs 9.78. The company’s sales has increased by 3.38 per cent from Rs 1,156.87 crore to Rs 1,196.01 crore.

The company has continued to register a positive growth across all segments as compared with the corresponding quarter of the previous year. Despite the weak sentiments, based on the apprehensions of delayed monsoon, the company attained growth across the segments.