Swiggy Reports ₹625.5 Cr Net Loss in Q2 Despite Revenue Growth
Marico Reports 20.27% Profit Increase in Q2 FY24 Results
Last Updated: 29th October 2024 - 05:28 pm
On Tuesday, Marico announced a 20.27% increase in its consolidated net profit, reaching ₹433 crore for the September 2024 quarter. In comparison, the company had recorded a net profit of ₹360 crore in the same period of the previous fiscal year, according to its exchange filing.
Marico Q2 Results Results Highlights
- Revenue: 7.6% to ₹2,664 crore, compared to ₹2,476 crore posted a year ago.
- Net Profit: Posted a net profit of ₹423 crore in the quarter ended September.
- EBITDA: EBITDA grew 5% YoY to ₹522 crore whereas EBITDA margin went down by 50 basis points to 19.6%.
- Total Income: Increased to ₹2,746 crore in the reporting period, up from ₹2,514 crore a year ago.
- Expenses: ₹2,194 crore, up from ₹2,038 crore in the previous year.
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Marico Management Commentary
The company said, “Marico’s quarterly business update highlighted stable sector demand, with rural markets outpacing urban areas for a third consecutive quarter. The company reported mid-single-digit volume growth in its domestic segment, showing sequential improvement. Parachute Coconut Oil achieved near mid-single-digit growth, supported by price adjustments to offset rising copra costs.”
Stock Market Reaction
Following the announcement of its Q2 results, Marico share price Ltd closed at ₹628.80 on the BSE, marking a decline of 0.83%.
About Marico
Marico Ltd (Marico) is engaged in the manufacturing, marketing, and sale of a diverse range of products in skin care, health care, and food categories. Its product portfolio includes items such as coconut oil, hair serums, value-added hair oils, edible oils, oats, body lotions, hair growth tonics, anti-aging creams, deodorants, hair gels, waxes, and hair color. Marico distributes its products through retail outlets and e-commerce channels and exports to markets including Bangladesh, Southeast Asia, the Middle East, Egypt, and South Africa.
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