Marico Q3 net profit jumps 10 percent to Rs 276 crore
Jan 31, 2020
FMCG firm Marico Ltd reported a 10 percent rise in its net profit to Rs 276 crore ($38.6 million) for the quarter ended December 2019, as against Rs 251 crore it had posted a year ago.
The company’s sales revenue for the quarter under review dropped by 2 percent to Rs 1,824 crore, as compared to Rs 1,861 crore it had posted in the corresponding quarter of the previous fiscal.
Marico's total expenses for the October-December quarter was down 3 percent to Rs 1,495 crore as against Rs 1,542 crore.
Commenting on the results, Marico’s managing director and CEO Saugata Gupta in a statement said, “The company witnessed a muted quarter in the India business as channel partners grappled with liquidity constraints and consumption trends failed to bring any cheer."
"However, relative offtake growth trends and market share gains in our key portfolios was reassuring. The International business continued to pitch in with a strong performance," he added.
For the financial year 2018-19, Marico had posted a net profit of Rs 1,135 crore with revenue of Rs 7,334 crore.
Marico is one of India's leading consumer products companies, with a strong presence in the beauty and personal care segments.
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