Marico Q3 net profit rises 13 percent to Rs 312 crore
FMCG major Marico Ltd consolidated net profit grew 13 percent to Rs 312 crore ($42.8 million) during the third quarter ended December 31, as against a net profit of Rs 276 crore it reported in the corresponding period last year.
The revenue from operations during the quarter under review rose 16 percent at Rs 2,122 crore, as compared to the year-ago quarter’s Rs 1,824 crore.
During the quarter, Marico stated that improving consumer confidence and the receding impact of the pandemic, the India business witnessed robust demand trends across more than 95 percent of its portfolio.
“The company had a stellar quarter with very healthy growth in both the India and International businesses. With the core franchises exhibiting strength and new bets in foods also trending well, we expect the domestic business to deliver much ahead of medium-term aspirations over the next few quarters. The international business is also poised to maintain steady growth over the next few quarters,” in a statement said Saugata Gupta, managing director and CEO of the company.
“Over the medium term, the company aims to grow the core and build sizeable new franchises through premiumisation, foods and digital brands,” Gupta added.
Marico is one of India's leading consumer products companies, with a strong presence in the beauty and personal care segments.
Copyright © 2021 FashionNetwork.com All rights reserved.