Marico Q2 profit jumps 17 percent to Rs 253 crore

By

Maverick Martins

Published
Oct 28, 2019

Fast-moving consumer goods business Marico Ltd registered a 17 percent jump in its net profit to Rs 253 crore ($35.8 million) for the second quarter ended September 30 as against Rs 216 crore it had reported in the year-ago period.
 

The company’s revenue dropped by Rs 8 crore to Rs 1,829 crore for the July-September quarter as against Rs 1,837 crore it had reported in the corresponding quarter last fiscal.
 
Marico’s earnings before interest, tax, depreciation, and amortisation (EBITDA) was up 16 percent to Rs 353 crore for the quarter.

“The company had a soft second quarter in the face of a challenging liquidity and consumption environment in the domestic market, especially in rural, while the international business provided some respite on the back of a robust performance in Bangladesh," Marico Ltd said in its statement.
 
“The company’s India business declined 3 percent in value terms to clock a turnover of Rs 1,398 crore in the backdrop of an accelerated slowdown in consumption witnessed during the quarter," the company added.
 
Marico hopes for a recovery during the second half of the current financial year. It had reported a revenue total of Rs 5,971 crore in the 2019 financial year.
 
Marico is one of India's leading consumer products companies with a strong presence in the beauty and personal care segments.