Marico Q3 profit up 32% to Rs 135 cr

Consolidated net sales of the company in Q3, 2013-14 rose to Rs 1,198 crore

FMCG firm Marico today said its consolidated net profit rose by 32.32% to Rs 135.36 crore for the third quarter ended December 31, 2013-14 fiscal.

It had posted consolidated net profit of Rs 102.29 crore in the October-December period of 2012-13 fiscal, Marico Ltd said in a filing to the BSE.

Consolidated net sales of the company in Q3, 2013-14 rose to Rs 1,198.35 crore, compared to Rs 1,163.99 crore in the year-ago period.

"The business has continued to grow in volumes albeit at a lower rate. Due to the weak demand environment, the growth rates of various segments have come down. However, the Company's market shares have remained intact and in some cases improved, demonstrating strong brand equity. The growth in profits continues to be robust," Marico said.

Marico's FMCG business in Q3 recorded a growth of about 9% at Rs 902 crore from the same quarter of last fiscal.

The turnover achieved from the youth brands - Set Wet, Zatak, Livon - in Q3 was Rs 48 crore, the company said.

During Q3 of the current fiscal, Marico's international business, focused largely on Bangladesh, MENA (Middle East and North Africa), South Africa and South East Asia, registered a growth of 10% over the year-ago period.

In a separate filing, Marico said the company has declared a second interim dividend of Re 1 per equity share of Re 1 each (being 100% on paid-up equity share capital of Rs 64.48 crore) for the financial year 2013-14.

Marico scrip was trading at Rs 214.40 in the afternoon trade on the BSE, up 1.11% from its previous close.