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FMCG major Marico Ltd posted a 5.04 per cent increase in consolidated net profit for the quarter ended December.
The company clocked ₹333 crore profit during the quarter against ₹317 crore recorded in the same quarter last year. The increase was 8.46 per cent from ₹307 crore reported the September quarter.
Revenue from operations grew 2.61 per cent to ₹2,470 crore.(₹2,407 crore).
Revenue from operations dropped 1.04 per cent from ₹2,490 crore posted in the September quarter. Parachute Rigids reported a 2 per cent growth in volume while Saffola Oils posted a low teen volume growth as stability in trade inventory and consumer pricing prevailed.
Improving trends
Saugata Gupta, MD & CEO, Marico Limited, said: “The quarter was characterised by improving trends in topline and earnings growth as the domestic business witnessed emerging signs of a gradual demand revival, while the international business stood its ground amidst macro headwinds in some markets. It was reassuring to see continued market share and penetration gains in most of our key portfolios and sustained growth momentum in new franchises. As the operating environment is expected to evolve favourably, we will aim to maintain an upward trajectory across growth parameters in the quarters ahead through consistent investment in our brands and focus on execution,”.
Amnish Aggarwal, Head of Research, Prabhudas Lilladher Pvt Ltd, said: “The company saw a pick up in volumes given price stability in Coconut Oil & Edible Oils. Domestic volumes at 4 per cent grew ahead of the industry helped by price corrections in key packs. International business reports high single-digit constant currency growth at 8 per cent. We believe the company should continue to see a favourable RM basket in the near term. We have a HOLD rating on the stock with a TP of ₹531.”
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