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Marico posts 30 jump in Q1 net profit

Marico reported a 30 percent rise in its net profit for the first quarter Q1 of the current fiscal
Marico posts 30 jump in Q1 net profit

Consumer products group Marico on Wednesday reported a 30 percent rise in its net profit for the first quarter (Q1) of the current fiscal.

According to the company, its net profit for the quarter under review stood at Rs 188.29 crore from Rs 144.39 crore for the corresponding quarter of last fiscal.

Total income during the period under review increased by 9.17 percent to Rs 1,487.42 crore from Rs 1,362.47 crore for the quarter ended June 30, 2014.

"We have had a satisfactory quarter, though with a few misses in the India and international geographies," said Saugata Gupta, managing director and chief executive, Marico.

Gupta informed that while growth in rural India is intact, the company is closely tracking the monsoon.

The company is also expecting urban consumption to recover in the second half of this year, Gupta said.

"We believe that significant progress in our focus transformation areas and improved macro factors will drive better volume growths in the second half of the year," Gupta added.

In terms of consolidated results, the company’s net profit grew by 28.36 percent to Rs 237.83 crore during the quarter ended June 30, 2015 from Rs 185.27 crore for the corresponding period of last fiscal.

The consolidated total income of the company increased by 10.56 percent to Rs 1,814.91 crore from Rs 1,641.45 crore for the quarter ended June 30, 2014.
 

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