Consumer goods major Marico Ltd reported a 5 percent rise in net profit to Rs 320 crore ($38.4 million) for the fourth quarter ended March 31, as against Rs 305 crore in the corresponding period of the previous financial year.
The company’s revenue for the quarter rose by 2 percent to Rs 2,278 crore, as against Rs 2,240 crore in the year-ago quarter.
For the full financial year 2024, Marico’s net profit stood at Rs 1,502 crore while its revenue for the year was Rs 9,795 crore.
Commenting on the results, Saugata Gupta, managing director CEO of Marico in a statement said, “We have closed fiscal 2023-24 on a promising note, delivering our highest-ever annual operating margin with sequential improvement in both the domestic and international businesses.”
“As the Bangladesh business regained its momentum, the ramp up in the MENA and South Africa businesses has visibly strengthened the growth construct of the international business. We will aim to deliver healthy revenue-led earnings growth in the near and medium term, aided by the positively evolving operating environment,” he added.
The Mumbai-based Marico is one of India’s leading fast moving consumer goods companies with brands like Parachute, Nihar, Saffola, Livon, and Set Wet among others.
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