New Delhi : Marico Ltd reported a 17.5% on-year rise in consolidated net profit to 1.85 bln rupees for quarter ended Jun 30 on the back of a 5% growth in sales volumes. Consolidated net sales of the fast moving consumer goods major increased 17.36% on-year to 16.19 bln rupees.
The domestic business, that contributes 75% of the sales of the company, saw sales volume rise by 6.5%, while in its international operations sales in volume terms remained flat. “The volume growth in India was at 6.5% for the quarter. The overall sales growth was bolstered by the price increases taken across the portfolio to cover a major part of the input cost push,” the company said in release.
The company was compelled to hike prices of its products as the prices of key raw material, Copra, surged during the quarter. In Apr-Jun, the company’s cost of materials rose 38.6% on-year to 7.86 bln rupees.