Wendt India reports marginal dip in Q3 net profit
In a separate statement, HUL said it has entered into an agreement with its parent firm Unilever for manufacturing, marketing and distributing the Brylcreem brand in India with effect from March 31, 2012.
Wendt India, a part of the $3.8 billion Murugappa Group, has reported a consolidated net profit of Rs 4.31 crore for the third quarter ending December 31, 2011, a 13.6 per cent decline vis-a-vis the year-ago period.
For the nine-month period ending December 31, 2011, the company's consolidated net profit rose to Rs 15.41 crore from Rs 13.06 crore in the corresponding period last year.
The consolidated total income of the company grew to Rs 27.04 crore in the third quarter from Rs 25.17 crore in the same period of the previous fiscal.
For the nine-month period ending December 31, 2011, its consolidated total income soared to Rs 83.42 crore from Rs 68.21 crore.
The company attributed the dip in their net profit to provisioning made toward "diminution in investment in their wholly owned subsidiary, Wendt Middle East and also due to lower margin on account of rising input costs and unfavourable product mix".
Last year's devastating floods in Thailand also had an impact on the business of its wholly owned subsidiary, a company statement said.