Marico reported a 2.48 per cent increase in consolidated net profit at Rs 185.04 crore for the second quarter ended September 30, led by volume growth.
Marico said, “The company had reported a net profit of Rs 180.55 crore in the July-September quarter a year-ago.”
Consolidated net sales during the quarter under review stood at Rs 1,536.29 crore, up 6.47 per cent from Rs 1,442.80 crore in the corresponding quarter of last fiscal.
“The volume growth is mainly attributable to competitive pricing, continued investments and pipeline refilling in general trade”, company added.
“In the second quarter, India business recorded a smart recovery with a volume growth of 8 per cent coupled with a healthy margin performance. The company continued to see satisfactory offtake growth with increases in market share in more than 90 per cent of the categories that it operates in,” it said.
During the period, Marico’s domestic sales were up 11.55 per cent to Rs 1,200.04 crore as against Rs 1,075.78 crore for the corresponding quarter of 2016-17.Its total expenses were up 7.54 per cent to Rs 1,304.23 crore as against Rs 1,212.75 crore.
“Marico’s International business grew by one per cent in constant currency terms (volume decline of 3 per cent). The male shampoo and male deodorants category slowdown in Vietnam and macro-economic headwinds in the MENA region continued to put pressure on the overall international business,” the company said.
Shares of Marico Ltd today settled at Rs 313.35 on BSE, up 0.80 per cent from previous close.