Home Food Marico’s Q3 consolidated net up almost 17 pc

Marico’s Q3 consolidated net up almost 17 pc

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FMCG major on Friday reported a 16.51 percent rise in its consolidated net profit to Rs 223.28 crore for the third quarter (Q3) ended December 31, 2017 as against Rs 191.64 crore in the same period of 2016-17.

Marico's Q3 consolidated net up almost 17 pc
The company said its international business grew by 9 percent in constant currency terms, while optical growth was muted due to currency devaluation

According to the company, its total income rose to Rs 1,641.74 crore in Q3 — up 14.01 percent — from Rs 1,439.99 crore reported during the same quarter of 2016-17.

“In the quarter ended December 31, 2017, revenue from operations stood at Rs 1,624 crore (US $250 million), a growth of 15 percent over Q3 FY17,” Marico said in a statement.

“The India business posted a healthy volume growth of 9.4 percent and a resilient margin performance. In an uncertain business environment, continued off-take growth coupled with market share gains affirmed the underlying strength of the franchise,” it added.

The company said its international business grew by 9 percent in constant currency terms, while optical growth was muted due to currency devaluation.

On a standalone basis, the company’s net profit edged lower by 9.49 percent to Rs 240.11 crore during Q3 of 2017-18, from Rs 265.30 crore posted during the same period in the previous fiscal.

During the quarter ended December 31, the total income of the company was reported at Rs 1,409.48 crore — up 8.37 percent — from Rs 1,300.62 crore reported during Q3 2016-17.

The statement added that the Board of Directors of the company has declared an interim dividend of 250 percent (Rs 2.5 per share) on its paid up equity share capital of Rs 129.08 crore, up from 200 percent last year.