Marico drops after Q4 results

Marico lost 2.09% to Rs 220.60 at 9:19 IST on BSE after consolidated net profit rose 20% to 84 crore on 9% growth in revenue from operations to Rs 999 crore in Q4 March 2013 over Q4 March 2012.

The company announced Q4 results after market hours on Tuesday, 30 April 2013.

Meanwhile, the S&P BSE Sensex was up 9.16 points or 0.05% at 19,513.34.

On BSE, 13,000 shares were traded in the counter as against average daily volume of 21,000 shares in the past two weeks.

The stock hit a high of Rs 221.50 and a low of Rs 219.50 so far during the day.

Marico said net profit before considering some one time accounting adjustments rose 1% to Rs 72 crore on 9% growth in revenue from operations to Rs 999 crore in Q4 March 2013 over Q4 March 2012.

The top line growth during the quarter was predominantly volume led, Marico said. Domestic FMCG business recorded a volume growth of 14% during the quarter. The company continues to focus on new consumer acquisition across its portfolios as against maximizing margins in the short term. The company believes that this is a sounder way of operating in developing and emerging markets that would lead to reaping dividends in the long run, Marico said.

Marico said that its belief in the long term potential of its businesses continues to be strong, bolstered by the record of strong volume growths across categories in recent years. "This emboldens us to spell out our preference for growing our volume franchise as compared to focusing on profit margins alone", Marico said in a statement.

During Q4 March 2013, the company allotted 1,000 unsecured, zero coupon redeemable non-convertible debentures of Rs 10 lakh each, aggregating Rs 100 crore which are listed on NSE.

Marico's board of directors at a meeting held on Tuesday, 30 April 2013, declared interim dividend of 50 paise per share for FY 2013.

Marico is a leading Indian Group in consumer products and services in the global beauty and wellness space.

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