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.
#2QWithCNBCTV18 | Marico posted better than expected Q2 nos with volumes beating estimates across categories. Saugata Gupta, MD & CEO tells @sonalbhutra they expect urban growth to recover as the country opens up & that the co will deliver 8-10% volume growth in H2@blitzkreigm pic.twitter.com/UPBhMSTeNJRelated stories
— CNBC-TV18 (@CNBCTV18News) October 29, 2020
“Our endeavour will be to deliver a 20 percent operating margin for the full year and to maximise volume growth and market share,” he added on his outlook on margin.
Source: CNBC-TV18
