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Marico has reported a 10 per cent increase in net profit at Rs 78 crore (Rs 86 crore) for the second quarter ending in September. Net sales increased 19 per cent from Rs 971 crore to Rs 1,159 crore during the same quarter. “Higher ad spends, net interest cost and effective tax rate resulted in slower growth in profits this quarter,” said Anubhav Rastogi, Head Investor Relations, Marico.
Ad spends increased from Rs 89 crore to Rs 159 crore this quarter. The domestic consumer products business grew by 19 per cent in value and 17 per cent in volume terms while the company’s international business posted 16 per cent growth in value. On Friday, shares of Marico closed at Rs 204.25 on the BSE.
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