Fast-moving consumer goods maker Marico posted an 8.66 per cent increase in its consolidated net profit with ₹464 core reported for the quarter ended on June 30, 2024.

The company had reported ₹427 crore during the same quarter a year ago, and sequentially it saw a 46 per cent growth.

Revenue from operations grew 6.70 per cent to ₹2,643 crore during the quarter (₹2,477 crore) and a 16 per cent increase sequentially.

Segment-wise growh

Marico registered 7 per cent year-on-year growth in revenue of the India business with ₹1,962 crore. Parachute Rigids reported 2 per cent growth in volume, while Saffola Oils posted a mid-single-digit volume growth as input and consumer pricing remained stable. Value Added Hair Oils declined 5 per cent in value terms due to persistent sluggishness and competitive headwinds, while foods saw a 37 per cent value growth.

The company said its digital-first portfolio is expected to end FY25 with an ARR of ₹550-600 crore and scale to 2x of FY24 ARR in FY27. The domestic revenue share of the foods and premium personal care portfolio is expected to expand to 25 per cent by FY27. 

The company’s international business reported double-digit constant currency (CC) growth. About 10 per cent CC growth was reported in Bangladesh, while MENA delivered 20 per cent CC growth. South Africa registered 28 per cent CC growth, driven by the ethnic hair care segment. Exports grew 14 per cent.

“The new fiscal has started on a promising note for both the domestic and international businesses, with revenue growth visibly turning a corner. We expect to sustain the improving trajectory in the core domestic business on the back of consistent market share and penetration gains. We will also maintain a steadfast focus on the profitable scale-up of the Foods and Digital-first brands. The international business is expected to maintain its double-digit CC growth momentum. We will drive healthy revenue-led earnings growth in the near and medium term,” said Saugata Gupta, MD and CEO, Marico.

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