FMCG major Marico Ltd on Friday posted a 3 per cent dip in its consolidated net profit for the quarter ended September owing to inflation.
The company clocked ₹307 crore in net profit during the quarter against ₹316 crore during the same quarter last year.
The company’s net profit was down 18.5 per cent sequentially as compared to ₹377 crore shown during the quarter ended in June 30, 2022.
The revenue from operations grew by 3.1 percent to ₹2,496 crore during the quarter as compared to ₹2,419 crore posted in the same quarter last year.
However, its revenue from operations dropped by 2.42 per cent to ₹2,558 crore during the September quarter compared to June quarter.
Parachute reported a 3 per cent dip in volume while Saffola Oils posted single digit volume growth.
“The first half ended on a fairly positive note despite the operating environment bringing little cheer. We are hopeful of a much better performance in the core domestic portfolio in the second half of the year as macro indicators and the base turn more accommodative, while the new engines continue to deliver on their promise. We are confident of sustaining the strong and profitable growth trajectory in the international markets and staying resilient amidst uncertainty in some of the markets,” said Saugata Gupta, MD & CEO, of Marico Ltd.