Marico’s profit up 15% in Q4 despite inflationary headwinds

BL Mumbai Bureau | Updated on: May 05, 2022

Net profit in quarter ended March 2022 was to ₹251 crore, as compared with ₹219 crore in corresponding quarter last year

FMCG company Marico reported a 15 per cent increase in consolidated net profit to ₹251 crore in the quarter ended March 2022 compared to ₹219 crore in the corresponding quarter last year.

The maker of Parachute hair oil and Saffola cooking oil reported a 7 per cent increase in revenue from operations to ₹2,161 crore from ₹2,012 crore in the fourth quarter of last year. The company, however, said rising inflation levels, exacerbated by geo-political tensions, continued to weigh down the overall consumption sentiment, and even more so in rural areas.

Saugata Gupta, MD & CEO said, “We have closed the year on a positive note with healthy topline and bottomline growth. The domestic business braved through challenging demand conditions and climbing costs to stay ahead of the overall FMCG market. We have also met our aspirational revenue targets for Foods and Beardo this year, which bodes well for our initiatives to broad base the domestic portfolio.”

“The International business has posted double-digit growth for the fifth consecutive quarter and is poised to sustain this momentum. While near term demand outlook is uncertain, we stay focused on doing the basics right and driving sustainable and profitable growth over the medium term,” he added.

The International business delivered 12 per cent constant currency growth in the quarter with each of the Bangladesh, South Africa and MENA businesses clocking double-digit constant currency growth. In the full year, the International business delivered a 16 per cent constant currency growth.

Gross margin continued to improve sequentially (76 bps) for the third quarter in a row.

Published on May 05, 2022
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