Union KBC Mutual Fund launches Union KBC Dynamic Bond Fund

Union KBC Dynamic Bond Fund’s new fund offer closes 6th February

Union KBC Mutual Fund has launched Union KBC Dynamic Bond Fund, an open-ended income scheme.

The investment objective of the scheme is to actively manage a portfolio of good quality debt as well as money market instruments so as to provide reasonable returns and liquidity to the investors.

The new fund offer closes on 6 February 2012. The minimum investment amount is Rs5000.

CRISIL Composite Bond Fund Index is the benchmark index. Parijat Agrawal,
Head-Fixed Income is the fund manager.

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Maruti Suzuki India net profit falls 63.6%

Net profit during the December 2011 quarter stood at Rs205.60 crore, a fall of 63.6%

In the third quarter of the financial year 2011-12, Maruti Suzuki India registered net sales of Rs7,663.60 crore, a decline of 17.4% over the same period in the previous year. Net profit during the December 2011 quarter stood at Rs205.60 crore, a fall of 63.6%.

During the quarter, the company sold 211,803 units in the domestic market as compared to 299,527 units in the same period in the previous year. In exports, the company sold 27,725 units against 31,160 units in the previous year.

Unit sales in the quarter were impacted by sluggish market conditions caused by higher fuel prices and interest rates. Also, the company lost 40,000 units in production due to the industrial relations problem at Manesar.

The depreciation in the rupee during the quarter adversely impacted the bottomline through higher cost of imports for the company and its vendors and royalty.

In the late afternoon, Maruti Suzuki India was trading at around Rs1,113.40 per share on the Bombay Stock Exchange, 0.9% up from the previous close.

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Colgate Palmolive (India) net quarterly profit up 74%; sales up 20%

Colgate Palmolive reported net profit for the December 2011 quarter of Rs115.6 crore and earnings per share of Rs8.50, an increase of 74% over the same quarter of the previous year

Colgate Palmolive (India) reported net sales of Rs669.60 crore for the quarter ended 31 December 2011, a 20% increase over the same quarter of the previous year. The company reported net profit after tax for the quarter of Rs115.60 crore and earnings per share of Rs8.50, an increase of 74% over the same quarter of the previous year.

Net sales for the nine months ended 31 December 2011 are Rs1937.90 crore, an 18% increase over the same period of the previous year. The company reported net profit after tax for the nine months as Rs315.70 crore, an increase of 9% over the same period of the previous year.

The company achieved 20% growth over the same quarter of the previous year, led by a strong 15% volume growth, in the toothpaste category. The company also maintained a leadership position at 52.5% market share during the period December 2010-November 2011. The mouthwash category continued its dynamic growth with the market share reaching 27.4% in the same period.

In December 2011, the company declared and paid its second interim dividend of Rs9 per share. The first interim dividend of Rs8 per share was paid in June 2011.

In the late afternoon, Colgate-Palmolive (India) was trading at around Rs983.10 per share on the Bombay Stock Exchange, 2.34% up from the previous close.

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