Marico Q4FY24 results: Net profit up 5% at Rs 318 cr, revenue rises 1.7%

The board of directors of Marico Limited declared a second interim dividend of Rs 6.50 per equity share, the total dividend for the year ended March 31, 2024, amounts to Rs 9.50 per equity share

Home-grown fast-moving consumer goods (FMCG) firm Marico Limited on Monday reported a consolidated net profit of Rs 318 crore for the quarter ending on March 31 (Q4) in financial year 2023-24 (FY24). This was a 5.3 per cent increase from the Rs 302 crore profit reported in the corresponding period last year. Sequentially, profit fell 16 per cent from Rs 383 crore in Q3.

The company reported consolidated revenue from operations of Rs 2,278 crore, up 1.7 per cent year-on-year (Y-o-Y) from Rs 2,240 crore. Sequentially, revenue fell 5.9 per cent from Rs 2,422 crore.

Earnings before interest, tax, depreciation, and amortisation (Ebitda) for Q4 stood at Rs 442 crore, rising 12.5 per cent. The Ebitda margin was at 19.4 per cent, up by 190 basis points.

For the entire financial year, the FMCG major reported a consolidated profit of Rs 1,502 crore, rising 13.6 per cent from the Rs 1,322 crore last year. Revenue from operations, on the other hand, fell by one per cent to Rs 9,653 crore, compared to Rs 9,764 crore reported at the end of FY23.

Total expenses of the company also fell by four per cent in FY24 to Rs 7,858 crore, compared to Rs 8,165 crore in FY23.

The board of directors of Marico Limited declared a second interim dividend of Rs 6.50 per equity share in a meeting chaired on February 27, 2024. Earlier, in October 2023, the board had declared an interim dividend of Rs 3 per equity share. Together, the total dividend for the year ended March 31, 2024, amounts to Rs 9.50 per equity share.

Shares of Marico Ltd closed 2.93 per cent higher at Rs 532 on the BSE, following the company's Q4 and FY24 financial results.