Indian consumer goods maker Marico reported an 8.2 per cent year-on-year rise in profit in its first quarter on Monday. The consolidated net profit stood at Rs 513 crore, compared to Rs 474 crore in the same quarter last year. Revenue from operations stood at Rs 3,259 crore, up 23.31 per cent from Rs 2,643 crore. Total income stood at Rs 3,315 crore, including Rs 56 crore in other income.
India and overseas segments post healthy growth
The growth was supported by strong performance in both its India and international businesses. Marico’s India business contributed Rs 2,495 crore to the top line, up 27.17 per cent from Rs 1,962 crore in the year-ago quarter. The international business also grew 12.91 per cent to Rs 764 crore from Rs 681 crore last year.
While commenting on the Q1 numbers, Saugata Gupta, MD & CEO said, “The new fiscal has begun on a promising note for both our India and international businesses, with growth trends moving in a positive direction. The improving trajectory of
our core portfolios, coupled with accelerated growth in foods and digital-first portfolio, have driven underlying volume growth in the India business closer to double digits.”
“Despite sharp inflationary headwinds in key commodities in the near term, we expect to maintain strong volume and revenue momentum, along with a resilient earnings performance, over the course of the full year,” he added.
Profit before tax from the India segment stood at Rs 469 crore, while the international segment reported a profit of Rs 213 crore during the quarter.
Total expenses were higher at Rs 2,659 crore as compared to Rs 2,075 crore in the same period last fiscal year, the company said.
Marico raises stake in Plix maker to boost wellness play
During the quarter, the company increased its stake in Satiya Nutraceuticals, the maker of wellness brand Plix. Marico now owns 60 per cent in the company on a fully diluted basis, strengthening its position in the health and wellness segment.
