Marico sees strong Q3 performance, expects recovery in FY21
FMCG major Marico Ltd is expecting strong numbers in the third quarter ended December 31, 2020, on the back of strong sales during the festive season across sectors especially from rural markets.
The company managed to bounce back after the Covid-19 disruptions during the October-December quarter and expects faster recovery going forward.
“The quarter was characterised by a faster than expected recovery in consumer sentiment in India, aided by the festival season and a declining Covid-19 graph. India business delivered a strong performance with double-digit volume growth. Revenue growth was in tandem with volume growth," Marico said in its quarterly update for December 2020.
“The value-added hair oils also exhibited strength with a broad-based sharp recovery across sub-segments, leading to overall double-digit growth for the category. There was a steady revival in discretionary categories with the premium personal care portfolios witnessing improving trends sequentially, however, still posting a modest decline on a year-on-year basis,” it added.
Despite the ongoing pandemic, Marico remains optimistic about the future and expects a strong recovery going forward provided the Covid and economic situation continues to improve.
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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