Marico Ltd Q1 net profit surges by 22 per cent

Mumbai: FMCG firm Marico Ltd on Thursday reported a 21.62% increase in consolidated net profit at Rs 315 crore for the first quarter ended June. The company had reported a net profit of Rs 259 crore in the April-June quarter a year-ago, Marico said in a BSE filing. Marico's consolidated net sales during the quarter under review stood at Rs 2,166 crore, up 6.85%, as against Rs 2,027 crore in the same quarter last fiscal.

"In Q1FY20, the company delivered strong earnings growth on the back of resilient volume growth, amidst moderation in the overall demand environment in the domestic market," Marico said in a statement. Its total expenses in the quarter under review stood at Rs 1,752 crore as against Rs 1,701 crore last year, registering a rise of 2.99%. During the period, the domestic sales of the company were up 6.32% to Rs 1,731 crore as against Rs 1,628 crore for the corresponding period last fiscal.

"Revenue from operations grew by 7% YoY to Rs 2,166 crore with an underlying domestic volume growth of 6% and constant currency growth of 7% in the international business," it added. Revenue from international business was at Rs 435 crore for the period under review, up 9.02%.

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