Marico share price jumps nearly 10% after Q4 results
Upstox
2 min read • Updated: May 7, 2024, 10:42 AM
Summary
Marico Q4 Results: Following the result announcement, Marico shares jumped 9.8% to a day high of ₹582.4 per share on NSE. As of 10:40 am, stock trades at ₹565 apiece, up 6.5%. For the full financial year 2023-24 the company’s revenue from operations dropped marginally by 1% to ₹9,653 crore from ₹9,764 in FY23.
Marico Q4 Results: Leading fast moving consumer goods firm Marico on Monday, May 6 reported a 5% jump in its consolidated net profit and marginal growth in revenue in the fourth quarter of the financial year 2023-24 (Q4FY24).
Following the result announcement, Marico shares jumped 9.8% to a day high of ₹582.4 per share on NSE. As of 10:40 am, stock trades at ₹565 apiece, up 6.5%.
In its earnings report released for the quarter and full financial year ended March 31, 2024, the company reported a consolidated net profit of ₹320 crore in Q4FY24, up 4.91% compared to ₹305 crore in the year-ago quarter. However, the company’s profit after tax (PAT) dropped more than 17% quarter-on-quarter against ₹386 crore in the December 2023 quarter.
In Q4FY24, the home-grown FMCG company reported an increase of nearly 2% year-on-year in its consolidated revenue from operations at ₹2,278 crore. The company’s EBITDA (Earnings before income tax, depreciation, amortisation) margin stood at 19.4%, increasing by 186 bps YoY. The company’s EBITDA grew by 12% year-on-year to ₹442 crore in the March quarter against ₹393 crore in the same period a year ago.
The company’s revenue from operations fell by nearly 6% in the quarter ended March to ₹2,278 QoQ from ₹2,422 in the quarter ended December 2023.
For the full financial year 2023-24 the company’s revenue from operations dropped marginally by 1% to ₹9,653 crore from ₹9,764 in FY23. The company posted a 12% growth in its EBITDA to ₹2,026 from ₹1,810 in the preceding fiscal. The company’s net profit in FY24 increased 14% YoY to ₹1,481 crore against ₹1,302 crore in FY23.
The company’s gross margin expanded 420 bps YoY in Q4FY24, aided by softer input costs and favourable portfolio mix.
The company informed the bourses that it witnessed underlying volume growth of 3% in the domestic business and achieved a 10% growth in its international business in constant currency terms in Q4FY24. Marico said in its investor presentation that premium and urban-centric segments stayed ahead of rural and mass segments in most FMCG categories.
Marico shares closed at ₹531.85 apiece, up 2.89%, on NSE.