Marico drops amid volatility after Q1 earnings

Marico lost 1.57% to Rs 256.95 at 14:46 IST on BSE after consolidated net profit rose 19% to Rs 185 crore on 25% growth in revenue from operations to Rs 1623 crore in Q1 June 2014 over Q1 June 2013.

The Q1 result was announced during market hours today, 4 August 2014.

Meanwhile, the S&P BSE Sensex was up 220.52 points or 0.87% at 25,701.36.

On BSE, so far 1.24 lakh shares were traded in the counter as against average daily volume of 14,000 shares in the past one quarter.

The stock was volatile. The stock lost as much as 2.6% at the day's low of Rs 254.25 so far during the day. The stock rose as much as 2.85% at the day's high of Rs 268.50 so far during the day.

Marico's consolidated EBITDA rose 20% to Rs 267 crore in Q1 June 2014 over Q1 June 2013.

Marico attributed the growth in top line during the quarter to an overall volume growth of 5% with a 6.5% volume growth in India. The Domestic business recorded a growth of 28% while the International business posted a growth of 16%, Marico said.

Over the next five years, Marico will take definitive steps to become an emerging market MNC by seeking to win amongst consumers, trade and talent, the company said. The company's philosophy of developing capability ahead of growth to drive a sustainable business model across both Indian and International markets will be executed synergistically under the One Marico umbrella, it said. The company's focus will be on creating winning brands, winning culture and a winning talent pool to create a virtuous cycle of great talent and an enabling culture driving innovation driven growth, Marico said. Towards this, Marico has identified 5 areas of transformation where it will develop top quartile capability and processes.

They are innovation, GTM, talent value proposition, IT & Analytics and cost management, Marico said in a statement.

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

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