Marico Ltd Q2 net up 23.27% at Rs 105.86 cr

Company reported net profit of Rs 86 crore in the July-September quarter of the 2012-13 fiscal

FMCG firm Marico Ltd today posted 23.27% increase in consolidated net profit at Rs 105.86 crore for the second quarter ended September 30, 2013-14, driven by lower expenses and increase in other income.

The company had reported net profit of Rs 85.87 crore in the July-September quarter of the 2012-13 fiscal.

However, Marico's net sales during Q2, 2013-14 were down 3.50% at Rs 1,115.36 crore, compared to Rs 1,155.89 crore in the year-ago period.

Expenses during Q2 were at Rs 966.68 crore, down 6.12%, as against Rs 1,029.78 crore in the year-ago quarter.

Marico's other income during the quarter stood at Rs 12.76 crore, compared with Rs 6.52 crore in the corresponding quarter last year.

The company has declared interim dividend of Rs 0.75 per equity share of Re 1 each for the financial year 2013-14.

Marico Ltd scrip closed at Rs 211.10 on the BSE, down 0.49%.