Marico Q2 reports 18 pc increase in consolidated net profit

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FMCG firm Marico has  reported a 18.05 per cent increase in consolidated net profit at Rs 180.56 crore for the September quarter.
The company had reported a net profit of Rs 152.95 crore in the corresponding quarter a year ago.
Marico’s income from operations in the quarter under review stood at Rs 1,439.03 crore compared to Rs 1,451.76 crore in the corresponding period in the previous year, the company said in a BSE filing.
For the six months ended September 30, the company posted a 17.55 per cent increase in its consolidated net profit at Rs 448.46 crore as compared with Rs 381.48 crore for the same period last fiscal.
Its income from operations during the first half of the current fiscal was down by 0.34 per cent to Rs 3,188.88 crore as against Rs 3,200 crore in the same period a year ago.
During the quarter, Marico’s India business clocked a turnover of Rs 1,076 crore, a decline of 3 per cent over the same period last year.
“Our growth in the second quarter was muted. Profitability indicators, however, continue to be robust. The macro environment in India and Middle East continues to be sluggish,” MD & CEO, Marico, Saugata Gupta was quoted by PTI as saying.
“We believe that the soft consumption environment has bottomed out and the performance of the company will pick up steadily going forward,” Gupta was further quoted by PTI as saying.
Marico’s International Business recorded a turnover of Rs 367 crore during quarter under review, a growth of 4 per cent in constant currency basis.

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