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Marico Q3 net profit up 32 per cent at Rs 135.36 crore

Marico on Friday said its consolidated net profit rose by 32.32 per cent to Rs 135.36 crore in the third quarter that ended in December 2013.

The FMCG firm had posted a consolidated net profit of Rs 102.29 crore in the corresponding period of the previous fiscal year (FY13), it said in a filing to the BSE. buy an essay

Consolidated net sales of the company in the quarter under review rose to Rs 1,198.35 crore, compared to Rs 1,163.99 crore in the year-ago period.

"The business has continued to grow in volumes albeit at a lower rate. Due to the weak demand environment, the growth rates of various segments have come down," Marico said.

"However, the Company's market shares have remained intact and in some cases improved, demonstrating strong brand equity. The growth in profits continues to be robust."

Marico's FMCG business in Q3 recorded a growth of about 9 per cent at Rs 902 crore from the same quarter of last fiscal year. The turnover achieved from the youth brands - Set Wet, Zatak, Livon - in Q3 was Rs 48 crore, the company said.

During the third quarter of the ongoing fiscal year (FY14), Marico's international business, focused largely on Bangladesh, MENA (Middle East and North Africa), South Africa and South East Asia, registered a 10 per cent growth over the year-ago period.

The company has declared a second interim dividend of Re 1 per equity share of Re 1 each (being 100 per cent on paid-up equity share capital of Rs 64.48 crore) for the financial year 2013-14," it said in a separate filing.

Shares in Marico, on Friday, ended at Rs 212.85 apiece on the BSE, up 0.38 per cent from the previous close.

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