Marico reported a 5 per cent increase in net profit to Rs 333 crore for the third quarter ended December 2022 on Friday. This compares to a net profit of Rs 317 crore in the previous year.
Revenue from operations increased by 2.6 per cent to Rs 2,470, compared to Rs 2,407 in the previous fiscal quarter.
The EBITDA for the current quarter was Rs 456 crore, up from Rs 431 crore in the previous year.
“During the quarter, the FMCG sector in India showed some signs of a gradual improvement in overall demand trends, in addition to the festive spirit and oncoming winter season providing some fillip to specific categories. With retail inflation easing month on month, the sector recorded its lowest volume decline in the last five quarters. Within the sector, Foods categories stayed on the growth path, while HPC categories were still under pressure. Rural remained a drag although its trajectory improved sequentially, while urban and premium categories continued to fare batter,” said Marico
In the third quarter, underlying domestic volume increase was 4 per cent. Domestic revenues were Rs 1,851 crore, up 2 per cent year on year, according to Marico’s report.
India business also witnessed a pickup in the performance over the preceding quarter on the back of steadying trends in the core franchises of Coconut Oil and Saffola Edible Oils coupled with continued momentum in Foods and Premium Personal Care portfolios. On a 3-year CAGR basis, quarterly domestic volume growth stood at a healthy 6 per cent.
General trade fell in the mid-single digits, with rural continuing to lag behind urban. According to the corporation, MT and E-commerce expanded by double digits.
With constant currency growth of 8 per cent, the international company maintained its robust growth pace.
