Marico Q4 revenue up by 34.5%

FMCG major Marico Ltd has reported a 14.07 per cent increase in its consolidated net profit at Rs 227 crore for the March 2021 quarter, helped by a double-digit volume growth in the domestic market.

The company had posted a net profit of Rs 199 crore in the January-March quarter a year ago, Marico said in a BSE filing.

Revenue from operations of the Mumbai-based firm was up 34.49 per cent at Rs 2,012 crore during the quarter under review as against Rs 1,496 crore in the corresponding period of the previous year.

“In Q4 FY21, revenue from operations grew by 34 per cent YoY to Rs 2,012 crore (USD 276 million) backed by robust volume growth of 25 per cent in the domestic business and constant currency growth of 23 per cent in the international business,” the company said in a statement.

During the period, domestic sales were up 37.35 per cent to Rs 1,574 crore as against Rs 1,146 crore from a year ago.

However, “operating margin was lower YoY at 17.6 per cent in Q4 FY21 vs 22.8 per cent in Q4 FY20, owing to the input cost push, which was partly offset by pricing interventions in key portfolios and aggressive cost control initiatives,” it said.

Over the domestic sales, Marico said rural markets continued to lead the way in traditional trade, growing at 1.8x of urban sales.
“eCom and CSD also fared well, while Modern Trade dipped due to pantry loading in the base quarter, it said.