Marico Q4 net up 7% at Rs 183.2 cr

FMCG firm Marico today reported a 7.19 per cent increase in consolidated net profit at Rs 183.2 crore for the fourth quarter ended on March 31, 2018.

The company had reported a net profit of Rs 170.91 crore in the January-March quarter a year-ago.

Total income during the quarter under review stood at Rs 1,502.97 crore against Rs 1,344.43 crore for the corresponding quarter of last fiscal, Marico said in a BSE filing.

During the quarter, the company reported revenue from operations at Rs 1,480 crore , up 12 per cent year-on-year.

"The India business volumes grew by a modest 1 per cent, while the international business posted a very healthy constant currency growth of 16 per cent (volume growth of 5%per cent)," the company said.

"Value growth in the India business was led by price hikes in the coconut oil portfolio. Gross margins continued to remain under pressure owing to the unrelenting inflation in copra prices against a benign input cost environment in the base quarter," it added.

Sharing outlook for the current fiscal, Marico said there have been early signs of a revival in rural (market), as it outpaced urban growth in the last three quarters of fiscal 2017-18.

"We expect the government's spending plans to bolster rural development and raising of minimum support prices of crops to help regain the momentum in rural demand in the medium term. Normal monsoons, as recently forecast, would be critical for a pickup in overall sentiment and demand growth in rural areas," it added.

For the year ended March 31, 2018, Marico reported a net profit of Rs 827.45 crore against that of Rs 810.97 crore in 2016-17.

Marico's total income in the full financial year was at Rs 6,417.72 crore as against Rs 6,033.23 crore in 2016-17.

Shares of Marico ended 4.70 per cent down at Rs 316.90 on BSE.