MUMBAI, June 25: Lakme Ltd on Wednesday posted a net profit of Rs 14.54 crore for the year ended March 1997 as against Rs 107.7 crore in the previous year. Sales dropped by 36.9 per cent to Rs 56.94 crore from Rs 90.36 crore. The profit before extra-ordinary items increased to Rs 20.97 crore from Rs 7.8 crore.

The directors have recommended a dividend of Rs 5 per share on an enhanced capital as a result of the 1:1 bonus issue, as against Rs 7.5 per share dividend last year. Depreciation was lower at Rs 98 lakh (Rs 1.45 crore) and the provision for taxation was Rs 8.60 crore (Rs 23.6 crore).

According to a company release, following completion of its restructuring, the sales and marketing activities relating to the cosmetics business have been handled throughout the year by Lakme-Lever, the 50:50 joint venture with Hindustan Lever.

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