Marico net up on strong volumes

On the back of strong volume growth in its international and domestic business, fast moving consumer goods company Marico Ltd saw its consolidated net profit surge 22 per cent in the quarter ended December 31. It was Rs 62 crore in the quarter, against Rs 51 crore in the corresponding period a year before.

Consolidated net sales grew eight per cent only, touching Rs 670 crore against Rs 621 crore in the corresponding period a year before. The company attributed this to price reduction in the domestic market on entry-level packs of Parachute, its popular hair oil brand.