Marico rises after Gujarat plant starts production

Marico gained 2.73% to Rs 344.20 after the company said its plant in Gujarat is now operational.

Marico's new plant situated at Sanand in Ahmedabad, Gujarat to manufacture personal care products has successfully commenced its commercial production on 28 January 2020. This is the first plant of the company in Gujarat which is now operational.

Earlier this month, Marico reported a weak operational update for Q3 December 2019. Marico said that overall consumption trends during the quarter belied expectations of the beginning of a revival in sentiment which were built on the back of good monsoons and announcement of various government measures. Category growths across personal care remained under pressure, while foods and allied categories fared relatively better.

Marico posted 16.5% rise in consolidated net profit to Rs 247 crore in Q2 September 2019 over Q2 September 2018. Net sales during the quarter under review were down 0.44% to Rs 1,829 crore as against Rs 1837 crore in the corresponding quarter of the previous fiscal.

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

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