The Hindu Business Line : Marico Q1 net up 15% on volume expansion

In spite of higher input costs and margin pressure, FMCG company Marico Ltd has recorded a 15 per cent increase in net profit at Rs 46.2 crore (Rs 40.1 crore) for its first quarter ended June 30. Net sales grew by 28 per cent from Rs 469 crore to Rs 601 crore profit during the quarter.

According to the company, more than half of the growth, about 15 per cent came from volume expansion. During the past year, the company had a volume market share of 48 per cent in the branded coconut oils category, led by Parachute and Nihar showing volume growth ranging from eight per cent to 10 per cent.

The Saffola refined edible oils franchise grew by 28 per cent in volume over the first quarter of the financial year 2008, led by Saffola Gold. The volume growth was boosted by the introduction of a new variant, Saffola Active.

In the hair oils category, Marico’s hair oils in rigid packs grew 26 per cent in volume over the corresponding quarter in the previous year.

Mr Saugata Gupta, CEO — Domestic Consumer Products Business, Marico said, “In an uncertain and difficult macro environment, we have focused on growth in consumer franchise. Such growth may come at a higher cost than before, but the investment would pay for itself in the long run.”

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