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Our Bureau

Mumbai , Jan. 19

Marico Ltd has reported a 30 per cent increase in net profit at Rs 28.4 crore for the third quarter of the current fiscal against Rs 21.9 crore for the same period last year.

The company has attributed franchise expansion across categories as the chief driver of profits. The FMCG company has also mentioned that it did not take any significant increase in consumer prices and ploughed back a larger part of the recent margin expansion into brand building.

The board of Marico has declared an interim dividend of 17per cent on its enhanced equity share capital of Rs 60.9 crore. During the third quarter, Marico's net turnover rose by 36 per cent to Rs 410 crore (Rs 301.28 crore).

Declaring the third quarter results, Mr Harish Mariwala, Chairman & Managing Director, Marico, said, "We look forward to staying on our stated sustainable profitable growth path in beauty and wellness with continued brand building efforts.''

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