Marico profit up 2.5 percent to Rs 185 crore in Q2

By

Maverick Martins

Published
Oct 31, 2017

Consumer products major Marico Limited reported a 2.48 per cent rise in its consolidated net profit to Rs 185 crore (approx $28.6 million) for the second quarter ended September 30 as compared to Rs 180 crore (approx $27.8 mn) it reported in same quarter last fiscal.
 

The company’s revenue was also up by 6 percent at Rs 1,557 crore (approx $240.3 million) from Rs 1,467 crore ($226.4 million) reported during the same quarter of 2016-17.

The India business achieved a turnover of Rs 1,200 crore (approx $187 million), a growth of 12% over the same period last year, Marico said in a statement

It further said that the volume growth in India was 8% for the quarter attributing the same to competitive pricing, restocking in trade,  pipeline reduction prior to implementation of GST and strategic investments made by the company.

“We expect the second half to be better with 8-10% volume growth in India and double digit constant currency growth in International (business),” Saugata Gupta, managing director and CEO of Marico said in a press statement.

As part of its plan to remain relevant to the internet-savvy new age consumers & other stakeholders, the company is planning to focus a lot on various digital initiatives in the coming quarter.
 
Marico said that it is also focusing to scale up its online business as it feels that e-commerce is an important pivot of growth.
 
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.