Marico net profit surges 16 percent to Rs 223 crore
The Indian consumer goods company Marico posted strong results for the quarter ended December 2017 with profit jumping 16 percent to Rs 223 crore (approx $ 34.8 million) for the quarter. The company had posted profit of Rs 192 crore (approx $ 30 million) during the October-December quarter of the previous fiscal, Marico said in a BSE filing.
Marico’s sales revenue also rose to Rs 1642 crore (approx $ 255.6 million) from Rs 1440 crore (approx $224 million) it had reported during the same quarter of previous fiscal.
The company’s expenses shot up to Rs 1347 crore (approx $ 210 million) against Rs 1,170 crore (approx $ 182 million) in the year-ago period.
“We had a stable quarter marked by healthy growth in most franchises with a sustained momentum in offtake growth and market share gains. The company is witnessing early signs of revival in consumer sentiment, especially in rural areas,” Marico Ltd MD and CEO Saugata Gupta said in a statement.
Marico has plans to push an omni-channel approach and use its online presence to generate more revenue in the coming quarter. In order to do this, the business has announced that it plans to push new brands as exclusive online in categories such as beauty and wellness.
Marico is a leading Indian company in the beauty and wellness space. Its products in hair care, skin care, health care and male grooming generated a turnover of about Rs 59 billion (approx $ 886 million) during 2016-17.
Copyright © 2021 FashionNetwork.com All rights reserved.