Thursday, June 20, 2024

Marico expected to post low single-digit Q4 consolidated revenue

FMCG major Marico Ltd on Monday that the firm’s consolidated revenue will be in low single digit in the March quarter on a year-on-year basis with gradual recovery with year-on-year volume trends as urban and premium categories being stable.

Marico noted that FMCG sector witnessed gradual recovery with year-on-year volume trends improving in each quarter. While urban and premium categories were stable, easing of broader commodity inflation bodes well for overall consumption trends, especially in rural markets.

“While a more visible and sustained recovery in FMCG demand is anticipated in the coming quarters based on a variety of improving macro indicators, a healthy monsoon season will be critical for the same to materialise,” said Marico in its filing.

In terms of India business, firm said that the Parachute Coconut Oil would post strong high single-digit volume growth, aided by stable consumer pricing while copra prices remained steady through the quarter. while the value added hair oils touched double-digit value growth.

Meanwhile, Saffola franchise remained stable sequentially but dipped on a year-on-year basis owing to a high absolute volume base.

The firm said that the foods continued to scale up well, while the premium personal  care also grew in double-digits. The Digital First portfolio continued to maintain its healthy run rate.

Marico said that the international business maintained its growth trajectory as it posted mid-teen constant currency growth. 

“Each of the markets exhibited resilience despite a challenging global macro environment and currency headwinds in certain markets,” it said.

FMCG major Marico reported a 5 per cent rise in its net profit to 333 crore during the third quarter ended December 2022. This is against a net profit of 317 crore in the year ago period.

The revenue from operations rose by 2.6 per cent to 2,470 crore as against 2,407 crore in the corresponding quarter last fiscal.

On Monday, the company’s scrip was down by 0.063 per cent at 479.40 on BSE.

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