Q2 performance roundup: Marico, Sobha, and RBL Bank in focus

FMCG major Marico Limited saw its domestic volumes grow in low single digits on a year-on-year (YoY) basis in the second quarter, with low single-digit volume growth in Parachute Coconut Oil and Saffola Edible Oils, and low single-digit value growth in value-added Hair Oils. The company's international business delivered double-digit constant currency growth.

However, consolidated revenue was marginally lower YoY, dragged by pricing corrections in key domestic portfolios over the last 12 months, which will progressively come into the base going ahead. The company expects robust gross margin expansion YoY and projects a healthy operating profit margin expansion leading to low double-digit operating profit growth.

Also Read: Marico shares tank 3%, reports lower consolidated revenue; MS, Macquarie bullish

Meanwhile, RBL Bank's Q2 deposits grew 13 percent YoY, and 5 percent QoQ, to Rs 89,774 crore as their gross advances shot up 21 percent YoY, and 5 percent QoQ, to Rs 78,186 crore. CASA for the quarter increased by 12 percent YoY and 0.5 percent QoQ to Rs 32,075 crore. Retail advances grew 34 percent YoY and 8 percent sequentially, while wholesale advances grew 7 percent YoY and were flat sequentially for the quarter ended September 30, 2023.