From net sales to profit, how Marico bucked the slowdown trend in Q4

Greater thrust on urban premiumisation, higher sales from online and modern trade and lower rural exposure helped insulate the company

Consumer goods major Marico reported its highest domestic volumes growth in three quarters as the Mumbai-based firm emerged an outlier in a market reeling from a slowdown. For the three months ended March 2019 (Q4), Marico's net sales, operating profit and net profit (excluding tax writebacks) grew 9 per cent, 12 per cent and 18 per cent, respectively, from a year earlier, surprising analysts, even as overall volume growth came in at 8 per cent. Domestic volume growth, too, came in at 8 per cent over the year-ago period while international business reported 14 per cent growth. 

At a time when