Marico shares up nearly 10% after Q4 earnings; net profit rises to ₹320 crore
Upstox
2 min read • Updated: May 7, 2024, 12:01 PM
Summary
Shares of FMCG major Marico Ltd. surged nearly 10% on Tuesday after the company reported a stronger than expected performance in the fourth quarter. The company's consolidated net profit rose 4.9% to ₹320 crore compared to the same period last year. The positive performance was driven by a 3% growth in domestic volumes and a 10% increase in constant currency international business.
Shares of FMCG major Marico Ltd on Tuesday climbed nearly 10% after the company reported a 4.9% rise in consolidated net profit in the fourth quarter ended March 2024. At the NSE, it zoomed 9.83% to ₹582.45 apiece.
Homegrown FMCG major Marico Ltd on Monday reported a 4.9% rise in consolidated net profit to ₹320 crore in the March quarter. The company had posted a consolidated net profit of ₹305 crore in the same quarter of the previous fiscal. Consolidated revenue from operations during the quarter under review stood at ₹2,278 crore, as against ₹2,240 crore in the year-ago period.
Total expenses in the fourth quarter were lower at ₹1,894 crore, compared to ₹1,907 crore a year ago, the company said. In Q4 FY24, underlying volume growth was 3% in the domestic business. The company reported constant currency growth of 10% in the international business.
About Marico Limited:
Marico Limited is one of India’s leading consumer goods companies operating in global beauty and wellness categories. With its headquarters in Mumbai, Marico is present in over 25 countries across emerging markets of Asia and Africa. It nurtures leading brands across categories of hair care, skin care, edible oils, healthy foods, male grooming, and fabric care. The company has the turnover of ₹7,314 crore and the net PAT is ₹1,043 crore.
At 11:50 PM, shares of Marico traded 10.30% higher at ₹584.90 apiece on NSE on 7 May, 2024.
With inputs from PTI.