Marico Q3 profit up 13 percent to Rs 252 crore
today Feb 6, 2019
Home-grown fast moving consumer goods business Marico Limited net profit for the third quarter increased by 13 percent to Rs 252 crore ($35.2 million) as against Rs 223 crore it had posted during October-December period of the previous fiscal.
The total income of the company during the quarter was up 15 percent at Rs 1,883 crore from Rs 1,642 crore it had reported in the year-ago period. The international business turnover stood at Rs 412 crore in the third quarter of this fiscal while its India achieved a turnover of Rs 1,449 crore.
The company attributed the growth to the price hikes taken in the core portfolios in response to rising input costs and favourable forex impact on the translation of overseas revenues.
Commenting on the performance, Saugata Gupta, managing director and CEO, in a statement said, “In Q3, we have delivered a reasonably good performance. We have further consolidated the core portfolio in India and have now stabilized the international businesses. Having reinvigorated the new product development and go-to-market processes, I am looking forward to an exciting journey ahead.
“We will continue to invest in brands, talent and capability and results will follow. Our CSR and sustainability agendas have a mandate of building a business with purpose and we will intensify our efforts in that direction."
Marico is a leading Indian company in the beauty and wellness space. Its product portfolio includes hair care, skin care, health care, and male grooming.
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