Marico Ltd reported a 20.3% rise in consolidated net profit to ₹433 crore for the quarter ending September 2024, up from ₹360 crore in the same period last year, as per its exchange filing on Tuesday.

Total income increased to ₹2,746 crore in the reporting period, up from ₹2,514 crore a year ago. Revenue from operations rose by 7.6% to ₹2,664 crore, compared to ₹2,476 crore in the same quarter last year.

The earnings before interest, taxes, depreciation, and amortization (EBITDA) also showed a modest increase of 5%.

The FMCG firm’s quarterly expenses grew to ₹2,194 crore, up from ₹2,038 crore in the previous year.

Marico’s quarterly business update highlighted stable sector demand, with rural markets outpacing urban areas for a third consecutive quarter. The company reported mid-single-digit volume growth in its domestic segment, showing sequential improvement. Parachute Coconut Oil achieved near mid-single-digit growth, supported by price adjustments to offset rising copra costs.

Saffola Oils showed slight revenue growth as its pricing cycle turned more favourable after eight quarters. Although Value Added Hair Oils faced competitive pressures in lower-tier markets, Marico anticipates gradual demand improvement with ongoing brand investments.

Foods and digital-first brands showed strong momentum, helping diversify Marico’s portfolio. The international business delivered solid low-teen growth in constant currency, with each market contributing positively.

Shares of Marico Ltd closed at ₹628.80, down 0.83% on the BSE following the announcement of its Q2 results.

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Published on October 29, 2024, 4:48:04 PM IST