Fast-moving consumer goods sector Marico Ltd reported a 5% increase in net profit to Rs 333 billion ($40.7 million) for the third quarter ended December 2022, compared with Rs 317 billion reported reported for the same period of the previous year.
The company’s revenue for the quarter rose 3% to Rs 2,470 crore, compared with Rs 2,407 crore reported for the corresponding period of the previous financial year.
Marico’s total expenses for the quarter stood at Rs 1,588 crore, compared with Rs 1,590 crore reported in the same period a year earlier.
The company’s international business maintained healthy growth momentum with constant currency growth of 8% while its domestic business grew by 4%.
Commenting on the third quarter results, Saugata Gupta, chief executive officer Managing director of Marico Ltd in a statement said: “The quarter was characterized by an improving trend in revenue and earnings growth as business The domestic industry saw emerging signs of a gradual recovery in demand, while the international corporate market stood firm against macro headwinds in some markets. It is reassuring to see continued growth in market share and penetration across most of our key portfolios and sustained growth in new franchises.”
“As the operating environment is expected to develop favourably, we will aim to maintain an upward trajectory on growth parameters over the coming quarters through consistent investment in our brands. us and focus on execution,” Gupta added.
Mumbai-based Marico is one of India’s leading consumer products companies with a strong presence in the beauty and personal care segments.
Copyright © 2023 FashionNetwork.com All rights reserved.