Marico posts 26% jump in January-March quarter net profit


FMCG firm Marico on Friday reported a 25.81% increase in consolidated net profit at Rs 138.43 crore for the March quarter on account of growth in domestic and international markets.

The company had reported a net profit of Rs 110.03 crore in the corresponding quarter a year ago, it said in a BSE filing.

Marico’s consolidated net sales during the quarter under review stood at Rs 1,302.78 crore, up 6.52%, as against Rs 1,222.98 crore in the same quarter in 2014-15.

The India business achieved a turnover of Rs 986 crore during the quarter, a value growth of about 4% over Q4 FY15. The business continues to gain market share in more than 95% of the portfolio on 12 months MAT basis. The volume growth in India was at 8.4% for the quarter,” the company said in a statement.

Its international business achieved a turnover of Rs 321 crore during the quarter, registering a growth of 11% in constant currency basis.

Marico MD and CEO Saugata Gupta said, “We continued our journey of delivering sustainable profitable growth this quarter.”

For the year ended March 31, 2016, Marico reported a net profit of Rs 724.79 crore on a consolidated basis, up 26.39%, as against Rs 573.45 crore in 2014-15.

Marico’s net sales for the fiscal rose 7.02% to Rs 6,122.39 crore as against Rs 5,720.28 crore in 2014-15.

“Deflation and severe drought conditions may make short-term growth in India a challenge. However, with prospects of a good monsoon and consumption pick up in the second half of the year, we remain confident of delivering 8-10% volume growth in India and a double-digit constant currency growth in the international segment,” Gupta added.

Shares of Marico on Friday settled at Rs 258.30 on the BSE, up 2.77% up from its previous close.

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