Marico’s Q2 net profit jumps ~20% y-o-y to ₹433 Crore

30 Oct 2024 , 10:43 AM

Marico Ltd recorded a 20.3% increase in total net profit at ₹433 Crore for the quarter ending September 2024, up from ₹360 Crore in the same period previous year, according to an exchange filing on Tuesday.

During the reporting year, total income was ₹2,746 Crore, up from ₹2,514 Crore the previous year. Revenue from operations increased by 7.6% to ₹2,664 Crore, from ₹2,476 Crore in the same quarter last year. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 5%.

The FMCG firm’s quarterly expenses increased to ₹2,194 Crore, up from ₹2,038 Crore the prior year.

Marico’s quarterly business update showed that sector demand remained consistent, with rural markets exceeding urban areas for the third straight quarter. The company recorded mid-single-digit volume increase in its domestic segment, indicating a sequential improvement. Parachute Coconut Oil experienced nearly mid-single-digit growth, aided by pricing modifications to counter growing copra costs.

Saffola Oils reported minor sales growth as its pricing cycle improved after eight quarters. Although Value Added Hair Oils encountered competitive headwinds in lower-tier markets, Marico forecasts steady demand improvement with continued brand investment.

Marico’s portfolio is now more diverse, with substantial growth in food and digital-first brands. The worldwide company experienced strong low-teen growth in constant currency, with each market contributing positively.

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