Aim to deliver 20% operating margin in FY21, says Marico’s Saugata Gupta
We had a steady growth in July, August, September, and in October trend continues, Marico MD & CEO Saugata Gupta said
October 29, 2020 / 05:24 PM IST
FMCG major, Marico on October 28 reported 7.90 percent increase in its consolidated net profit at Rs 273 crore for the second quarter ended September 30, helped by robust volume growth in domestic business and a stable performance overseas.
The company had posted a net profit of Rs 253 crore in the July-September quarter a year ago, Marico said in a regulatory filing.
Saugata Gupta, MD and CEO of the company discussed the company's second quarter performance with CNBC-TV18 and gave outlook on margins. Stating: “We had a steady growth in July, August, September, and in October trend continues.”
He further added that the FMCG company expects urban growth to recover as the country opens up and will deliver 8-10 percent volume growth in the second half of FY21.