Marico Q2 up 12% to Rs 118 cr

Company had posted net profit of Rs 105.86 crore for the same quarter of the previous fiscal

FMCG firm Marico Ltd today reported an increase of 11.71% in its consolidated net profit to Rs 118.26 crore for the second quarter ended September 30, 2014-15.

It had posted net profit of Rs 105.86 crore for the same quarter of the previous fiscal, Marico said in a BSE filing.

Marico's total consolidated net income in Q2, 2014-15 increased 27.96% to Rs 1,431.17 crore from Rs 1,118.41 crore during the July-September quarter of 2013-14.

According to the company, during Q2 it had "healthy volume growth of 8% in India and 5% in international business. The overall sales growth of 34% was bolstered by the price increases taken across the portfolio to cover a major part of the input cost push".

It had a double digit volume and value growth in value- added hair oil segment of Parachute Advanced, Nihar Naturals and Hair & Care.

"Youth brands (Set Wet, Zatak, Livon) portfolio grew by 21% in value terms during Q2 FY'15 over Q2 FY14. In terms of volume market share, the company gained share in two of the three categories," the company said.

The Saffola refined edible oils franchise grew by 9.5% in volume terms during Q2 FY15 over Q2 FY14, it added.

For the first half of 2014-15, the company's consolidated net profit rose 16.19% to Rs 303.54 crore compared to Rs 261.24 crore in the same period last year.

Consolidated net sales of the company increased 26.53% to Rs 3,054.29 crore as against Rs 2,413.77 crore in the same period of previous fiscal.

Marico shares were trading at Rs 308 per scrip, up 1.95%, on the BSE.