Marico Q2 net profit rises 8 percent to Rs 273 crore

By

Maverick Martins

Published
Oct 29, 2020

FMCG firm Marico Ltd reported an 8 percent rise in its consolidated net profit at Rs 273 crore ($36.8 million) for the second quarter ended September 30, as against a net profit of Rs 253 crore in the July-September quarter a year ago.
 

The company’s revenue from operations was up 9 percent to Rs 1,989 crore during the quarter under review, as against Rs 1,829 crore in the year-ago period.
 
Marico’s total expenses for the quarter were up 8 percent at Rs 1,641 crore, as against Rs 1,524 crore.

As a result of the Covid-19 outbreak, Marico’s operations were temporarily disrupted at manufacturing, warehouse, and distribution locations resulting in muted numbers in the last two quarters.
 
Commenting on the results, Marico’s managing director and CEO Saugata Gupta, in a statement said: “The sector has witnessed some green shoots of revival in consumer sentiment with the gradual easing of lockdown restrictions imposed to curb the ongoing Covid-19 pandemic.”
 
“Moreover, the inherent strength of our trusted franchises and deep distribution network has allowed the Company to deliver a strong Q2 with broad-based double-digit volume growth in the domestic business and a stable performance overseas,” he added.
 
Marico is one of India's leading consumer products companies, with a strong presence in the beauty and personal care segments.