Marico reports 13 pct jump in net profit during Q3 2018-19

FMCG firm Marico Tuesday reported 12.72 per cent increase in consolidated net profit at Rs 251.7 crore for the quarter ended December 2018. The company had posted a net profit of Rs 223.28 crore during the October-December period of the previous fiscal.

Total income during the latest quarter stood at Rs 1,882.54 crore, up 14.61 per cent from Rs 1,642.49 crore reported in the year-ago period, Marico said in a BSE filing. Revenue from operations grew 15 per cent year-on-year to Rs 1,861 crore (USD 258 million), with underlying domestic volume growth of 5 per cent and constant currency growth of 11 per cent in international business.

"Value growth was driven by price hikes taken in the core portfolios in response to rising input costs and favourable forex impact on the translation of overseas revenues," it added. The international business turnover stood at Rs 412 crore in the third quarter of this fiscal. The FMCG business in India achieved a turnover of Rs 1,449 crore. The company also announced a second interim dividend of Rs 2.75 per equity share. Marico stock closed 0.40 per cent up at Rs 368 on BSE.