Wipro Consumer Care and Lighting"s President Vineet Agrawal reported that there would be an increase of 5 per cent in the soap prices. The increase in key ingredients for soap like palm oil and crude oil has hit the personal care product makers.
Agrawal said that palm oil prices are still on the higher side but he is not expecting a further increase in the price unless the crude oil prices rise. Although the price of the soaps had been increased by 5 per cent during January-February, but still the sales of Wipro's consumer products division increased by 19 per cent in the quarter ended March 2011.
It is reported that there was a correction in prices between 10-15 per cent in mid-March. The company recorded revenue of Rs. 724.4-crore in the fourth quarter ended 2011, despite some inconsistency of the sales in the Middle East. The operating margins stood at 12.3 per cent, which is same as last year.