Marico Ltd's Q3 net profit rises 5 percent to Rs 333 crore

By

Maverick Martins

Published
Feb 3, 2023

FMCG major Marico Ltd reported a 5 percent rise in its net profit to Rs 333 crore ($40.7 million) for the third quarter ended December 2022, as against Rs 317 crore reported in the year ago period.

The company’s revenue during the quarter rose by 3 percent to Rs 2,470 crore, as against Rs 2,407 crore reported in the corresponding period of the previous fiscal year.

Marico’s total expenses during the quarter stood at Rs 1,588 crore, as against Rs 1,590 crore reported in the year-ago period.

The company’s international business sustained its healthy growth momentum with constant currency growth of 8 percent while the domestic business grew by 4 percent.

Commenting on the Q3 results, Saugata Gupta, managing director CEO of Marico Ltd in a statement said, “The quarter was characterized by improving trends in top line and earnings growth as the domestic business witnessed emerging signs of a gradual demand revival, while the international business stood its ground amidst macro headwinds in some markets. It was reassuring to see continued market share and penetration gains in most of our key portfolios and sustained growth momentum in new franchises.”

“As the operating environment is expected to evolve favourably, we will aim to maintain an upward trajectory across growth parameters in the quarters ahead through consistent investment in our brands and focus on execution,” Gupta added.

Mumbai-based Marico is one of India's leading consumer products companies with a strong presence in the beauty and personal care segment.