Fast moving consumer goods (FMCG) firm Marico has reported a 12.72 per cent increase in consolidated net profit at ₹252 crore for the quarter ended December 31, 2018. The underlying domestic volume growth remained benign at 5 per cent while the industry grew at double digits.

Marico’s profits for the same period last fiscal stood at ₹223 crore.

The total revenues stood at ₹1,882 crore during the October-December quarter, up 14.61 per cent from ₹1,642.49 crore in the year-ago period.

Value growth was driven by price hikes taken in the core portfolios in response to rising input costs and favourable forex impact on translation of overseas revenues, the company said.

The company’s new-age channels of Modern Trade and E- commerce also continued to surge ahead as CSD grew by 12 per cent. The international business turnover stood at ₹412 crore in the third quarter of this fiscal.

The Mumbai-based company had entered a few new categories recently to target the gourmet and health conscious consumers with its range of nutritious superfoods.

This resulted in a higher ad spend at 12 per cent, y-o-y. “Investment towards brand building will be further ramped up to support market growth initiatives in core categories, expansion into adjacent categories and a visibly strong innovation pipeline for the next 2-3 years,” it said in a statement.

For FY19 and beyond, the company is expecting 8-10 per cent and healthy market share gains in the India business.

The company aims to deliver a 20 per cent growth in categories such as foods, premium hair care, male grooming amongst others.