Marico Q4 net zooms two-folds to Rs 405 cr; revenue rises to Rs 1,609 cr

Homegrown FMCG major Marico Monday posted over two-fold increase in consolidated net profit at Rs 405 crore for the fourth quarter of 2018-19, aided by one-time write-back of tax provisions amounting to Rs 188 crore.

The company had reported a net profit of Rs 183 crore in the corresponding period of fiscal 2017-18.

Revenue from operations rose to Rs 1,609 crore for the March quarter, as compared with Rs 1,503 crore in the same period of 2017-18, Marico said in a regulatory filing.

For the 2018-19 fiscal, the company posted a net profit of Rs 1,135 crore, up 37.24 per cent from Rs 827 crore in 2017-18.

Revenue from operations during the last fiscal rose to Rs 7,334 crore from Rs 6,333 crore in 2017-18.

The company, which sells brands like Parachute Coconut Oil and Saffola, said the estimated capital expenditure in current fiscal is likely to be around Rs 125150 crore.

On outlook, it added: "The company will aim for a volume growth of 8-10 per cent and a topline growth of 13-15 per cent depending on inflation over the medium term."

The FMCG firm further said investments towards brand building will be stepped up to support market growth initiatives in core categories and expansion into adjacent categories.

"The company will also aggressively invest behind the recent innovations and a visibly strong pipeline for the next 2-3 years," it added.

Marico shares Monday ended 4.56 per cent lower at Rs 340 apiece on the BSE.