Marico Q3 revenue rises 10% to Rs 276 crore – ET Retail

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Marico Q3 profit rises 10% to Rs 276 crore New Delhi: FMCG agency Marico on Thursday reported an almost 10 per cent improve in consolidated internet revenue to Rs 276 crore for the quarter ended December 2019 helped by gross margin expansions.

The corporate had posted a internet revenue of Rs 251 crore within the October-December quarter a 12 months in the past, Marico stated in a BSE submitting.

Nevertheless, internet gross sales dropped by 1.98 per cent to Rs 1,824 crore through the quarter below review in comparison with Rs 1,861 crore within the corresponding quarter of the earlier fiscal.

“Benign enter prices within the home and Bangladesh companies led to gross margin enlargement of 286 bps on a year- on-year foundation. EBITDA margin expanded by 116 bps to 20.Four per cent,” stated Marico in a put up incomes assertion.

Commenting on the outcomes, Marico MD & CEO Saugata Gupta stated, “The Firm witnessed a muted quarter within the India enterprise as channel companions grappled with liquidity constraints and consumption developments did not deliver any cheer.”

“Nevertheless, relative offtake progress developments and market share positive factors in our key portfolios was reassuring. The Worldwide enterprise continued to pitch in with a robust efficiency,” he stated.

Marico’s complete bills have been at Rs 1,495 crore as in opposition to Rs 1,542 crore, down 3.04 per cent.

In the course of the interval, home gross sales have been down 4.76 per cent at Rs 1,380 crore as in opposition to Rs 1,449 crore for the corresponding interval of the final fiscal.

“Whereas total class progress charges have been muted through the quarter, Marico manufacturers’ offtake grew forward of the class, leading to market shares positive factors throughout most segments. The stress in consumption was significantly seen in private care classes, whereas meals and allied classes confirmed resilience,” the corporate stated.

Income from worldwide enterprise rose 7.76 per cent to Rs 444 crore within the October-December interval of FY 2019-20, as in opposition to Rs 412 crore a 12 months earlier.

“The Worldwide enterprise made one other constructive stride, delivering 10 per cent fixed forex progress, led by strengthening momentum in Bangladesh and wholesome progress in exports to diaspora and different markets,” it stated.

In the meantime, in a separate submitting Marico knowledgeable BSE that its board in a gathering held on Thursday has declared an interim dividend of 325 per cent, which is Rs 3.25 per share of Re 1 every.

That is the second Interim Fairness Dividend for FY2019-20, it added.

Shares of Marico Ltd on Thursday settled at Rs 338 on BSE, down 1.87 per cent from the earlier shut.



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