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HLL gross turnover upto Sep up 23 pc to Rs 76 billion

Hindustan Lever Limited has posted a gross turnover of Rs 76.79 billion during the nine months ending September 30, an increase of 23.6 per cent over Rs 62.13 billion posted during the corresponding period in 1997, thereby sustaining its consistent track record of growth, in spite of difficult market conditions.

The consolidated net sales, profit before taxation and net profit (after exceptional items) of HLL, its subsidiaries and the erstwhile Pond's India Limited for the period of nine months which reflect the group's underlying performance on a comparable basis, registered a growth of 20 per cent, 26 per cent and 30 per cent respectively.

HLL's results for the third quarter ending September 30, incorproated the results of the erstwhile PIL, which has been amalgamated with HLL effective January 1, 1998. The amalgamation has boosted the current year's figures. Hence, they are not strictly comparable with those of the previous year.

Turnover, net of excise, during the period of nine months has also increased by 23 per cent to Rs 71.38 billion (1997: Rs 58.06 billion).

Export turnover (including subsidiaries) is Rs 13.50 billion, a growth of 60.7 per cent over Rs 8.4 billion in 1997.

HLL chairman K B Dadiseth said that consequent to the amalgamation of PIL, the figures of the current quarter and the period of nine months, ending September 30, are not strictly comparable to those of the previous period.

However, the annualised earnings per share has grown by 30 per cent during the quarter and by 26.9 per cent during the period January to September 1998, compared to the corresponding periods in 1997, in spite of the increase in paid-up equity share capital.

''We have continued our focus on volume growth and market development through consumer-relevent innovations. As a result, market shares increased in all key categories. The company has also initiated several steps to control costs and improve efficiencies,'' he said.

UNI