MARICO Q1 RESULTS: PROFIT RISES BY 8.7% TO RS 474 CRORE, REVENUE AT RS 2643 CRORE

FMCG major and the maker of brands like Saffola and Parachute, Marico Ltd on Monday posted its fiscal first quarter profit at Rs 474 crore, up 8.7 per cent in comparison to Rs 436 crore during the corresponding quarter of previous fiscal year. It recorded revenue from operations at Rs 2643 crore, up 6.7 per cent as against Rs 2477 crore during the same period of FY24, with underlying volume growth of 4 per cent in the domestic business and constant currency growth of 10 per cent in the international business. The company EBITDA stood at Rs 626 crore, up 9.1 per cent on-year. Gross margin expanded by 230 bps YoY, owing to benign input costs and favorable portfolio mix. 

A&P spends were up 13 per cent YoY, as the company sustained focus on strategic brand building of core and new businesses. 

During the quarter, Marico said, overall FMCG volume trends in India continued to exhibit gradual improvement on a 2-year CAGR basis, with the trajectory in rural areas bearing more promise, while urban was stable. Pricing growth, it added, for the sector turned flattish on a YoY basis. Meanwhile, premium segments continued to outpace mass segments, while alternate channels gained salience vis-à-vis General Trade (GT). 

Marico recorded domestic revenue at Rs 1,962 crore, up 7 per cent YoY, as volume growth was supplemented by price hikes in the Coconut Oil portfolio, which more than offset the residual base impact of pricing cuts in the Saffola Oils portfolio.

The International business, it said, sustained its double-digit constant currency growth momentum with each of the key markets delivering broad based growth.

2024-08-05T09:44:27Z dg43tfdfdgfd