Marico home to popular brands Parachute and Saffola, reported a more than 20 per cent jump in quarterly profit, helped by a recovery in rural demand and easing inflation.
Marico’s consolidated net profit stood at Rs 302 crore for the three months ended 31 March, compared with Rs 251 crore a year earlier.
Consumer goods makers have been winding down price hikes in recent months in line with easing commodity costs, encouraging people to buy more branded products.
Government data showed that India’s annual retail inflation eased to 5.66 per cent in March.
The company also pointed to early signs of a demand recovery in rural India. “The rural sector has most likely bottomed out as the declining trend reversed in this quarter,” it said.
Analysts, on average, had expected the company to report a profit of Rs 274 crore, according to Refinitiv IBES data.
Meanwhile, the food business reported an 18 per cent increase in sales, led by the strong demand for Saffola-branded oats and other food items.
Revenue from operations rose 3.7 per cent to Rs 224 crore.
Rival Adani Wilmar’s fourth-quarter earnings more than halved, while another peer Dabur India reported a 2 per cent increase.
