FMCG firm Marico on Monday posted a 40 per cent jump in its consolidated net profit to Rs 71.62 crore in the quarter ended March 31, 2011 as compared to the same period previous fiscal.
The company, which sells hair oil brands like ‘Parachute’ and ‘Nihar’, had a consolidated net profit of Rs 51.15 crore in the quarter ended March 31, 2010, Marico said in a filing to the Bombay Stock Exchange.
Marico’s consolidated net sales, during the quarter under review, increased by 24 per cent to Rs 747.35 crore from Rs 602.26 crore recorded in the year-ago period.
During the quarter, the company acquired 85 per cent stake in Vietnamese firm International Consumer Products Corporation, it added.
Besides, the company has also divested its edible oil brand ‘Sweekar’ to Cargill India Private Limited for a consideration of Rs 50 crore.
For the year-ended March 31, 2011, Marico’s net profit stood at Rs 286.44 crore, a 23.6 per cent jump from 231.67 crore in the previous fiscal.
During the period, the company posted net sales of Rs 3128.31 crore as against Rs 2660.75 crore in the year-ago period.
On a standalone basis, Marico’s net profit in the quarter ended March 31, 2011, stood at Rs 131.81 crore as against Rs 60.40 crore posted in the year-ago period.