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Marico Q1 net profit rises 3% to Rs 377 crore; sales up 1.3% to Rs 2,558 crore

The company had posted a net profit of Rs 365 crore in the April-June period a year ago, Marico said in a BSE filing.

August 06, 2022 / 03:05 PM IST
Marico: Marico says India business volumes decline in mid-single digits. India business volumes in Q1FY23 declined in mid-single digits, particularly dragged by a sharp drop in Saffola Oils, while Parachute coconut oil recorded a minor volume decline. Value added hair oils grew in low single digits in value terms despite weak consumption sentiment, especially in rural. The International business maintained its strong momentum, delivering high-teen constant currency growth. Consolidated revenue in the quarter ended June 2022 was marginally higher on a year-on-year basis.

Marico: Marico says India business volumes decline in mid-single digits. India business volumes in Q1FY23 declined in mid-single digits, particularly dragged by a sharp drop in Saffola Oils, while Parachute coconut oil recorded a minor volume decline. Value added hair oils grew in low single digits in value terms despite weak consumption sentiment, especially in rural. The International business maintained its strong momentum, delivering high-teen constant currency growth. Consolidated revenue in the quarter ended June 2022 was marginally higher on a year-on-year basis.

FMCG firm Marico Ltd on Saturday reported a 3.28 per cent increase in its consolidated net profit to Rs 377 crore for the first quarter ended June.

The company had posted a net profit of Rs 365 crore in the April-June period a year ago, Marico said in a BSE filing.

Its revenue from operations rose marginally by 1.3 per cent to Rs 2,558 crore, as against Rs 2,525 crore in the corresponding quarter of the previous year.

Marico’s total expenses dipped to Rs 2,076 crore from Rs 2,085 crore in Q1 FY22. Revenue from the domestic market dropped 3.56 per cent to Rs 1,921 crore as against Rs 1,992 crore earlier.

However, its revenue from international sales climbed 19.51 per cent to Rs 637 crore compared to Rs 533 crore in Q1 FY22.
PTI
first published: Aug 6, 2022 03:05 pm
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