The Hindu Business Line : Marico net up 11.6%

Marico Ltd has posted a 11.6 per cent increase in net profit at Rs 47.1 crore for the second quarter. According to the company, the period under review witnessed significant volatility in the environment including those in input costs, in foreign exchange rates and increased interest rates. The PAT during the quarter is after absorbing a foreign exchange mark to market loss of Rs 7 crore as the rupee depreciated from 42.91 at the beginning of the quarter to 46.97 to a US d ollar on September 30. The extent of this steep depreciation was unanticipated and had it not been for the MTM loss, the PAT growth for the quarter would have been 24 per cent. Marico recorded a turnover growth of 30 per cent during the second quarter at Rs 603 crore, building upon the strong 28 per cent growth in the first quarter, over the corresponding period in the previous year. Despite inflationary pressures, consumption was not adversely impacted during the period. All Marico’s businesses, consumer products in India, international business and Kaya skin solutions posted healthy growth. The turnover growth comprised organic volume growth of 11 per cent and inorganic growth of 3 per cent accompanied by price led growth of 16 per cent.

– Our Bureau

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