Fast-moving consumer goods major Marico on Friday reported 17 per cent year-on-year growth in profit after tax at Rs 238 crore for the quarter ended March due to volume-led strong revenue growth.
Revenue from operations rose by 34 per cent to Rs 2,012 crore backed by 25 per cent growth in domestic business and constant currency growth of 23 per cent in international business.
As macroeconomic indicators signalled some positivity for most of the quarter, the company witnessed strong momentum in each of the core portfolios of the India business while steadily strengthening its play in foods through innovation.
Value-added hair oils grew 22 per cent in volumes with all of the key brands marking double-digit growth. Saffola edible oils extended stellar run with 17 per cent volume growth despite a particularly strong base on the back of investment in new markets and increasing household penetration.
Marico said the foods portfolio grew 134 per cent in value terms in Q4 and crossed Rs 300 crore in turnover in FY21. The base oats franchise grew by 84 per cent in value terms backed by increased penetration and market share gains.
E-commerce registered an accelerated growth of 81 per cent, partly buoyed by the social distancing tailwind. Canteen stores department (CSD) grew 59 per cent on a low base. Depreciation during Q4 FY21 was Rs 36 crore vresus Rs 38 crore in Q4 FY20.
With markets opened up, direct distribution improved and is now ahead of pre-Covid levels in both urban and rural areas. However, the company said, there could be some disruptions going ahead, given the mounting restrictions during the ongoing second Covid wave.
The estimated capital expenditure in FY22 is likely to be around Rs 125 crore to 150 crore, said Marico. The net surplus of the group as on March 31 was about Rs 1,355 crore.