Marico shares jump nearly 6% post robust Q4 results

Shares of Marico gained nearly 6 per cent Tuesday after the company posted over two-fold increase in consolidated net profit for the fourth quarter of 2018-19.

The scrip jumped 5.59 per cent to close at Rs 359 on the BSE. During the day, it advanced 8.17 per cent to Rs 367.80.

At the NSE, shares climbed 5.75 per cent to close at Rs 359.15.

On the traded volume front, 7.32 lakh shares were traded on the BSE and over one crore shares on the NSE during the day.

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 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.