Marico announced a 15.3% year-on-year growth in net profit today to Rs 85 crore. Despite this, the margins declined due to increasing cost of raw materials, especially in the hair oils segment.
In an exclusive interview with CNBC-TV18, Milind Sarwate, group chief financial officer and chief human resource officer of Marico says that the margins contracted due to a big push from raw materials, mainly in copra (used in hair oil).Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
