Marico Q1 net profit rises 23.17% to Rs 388 cr, revenue falls by 11.12%

FMCG firm Marico Ltd on Monday reported a 23.17 per cent increase in its consolidated net profit to Rs 388 crore for the first quarter ended June 30.

The company had posted a net profit of Rs 315 crore in April-June quarter a year ago, Marico said in a BSE filing.

However, its revenue from operations fell 11.12 per cent to Rs 1,925 crore during the quarter under review, as against Rs 2,166 crore in the corresponding quarter previous year.

Its total expenses declined 7.39 per cent to Rs 1,501 crore in Q1 FY 2020-21, compared to Rs 1,752 crore.

During the period, domestic sales were down 14.50per cent at Rs 1,480 crore, over Rs 1,731 crore in the same period a year ago.

Revenue from the international business was up 2.29 per cent to Rs 445 crore, as against Rs 435 crore a year earlier.

Shares of Marico Ltd on Monday closed at Rs 350.45 on the BSE, down 1.89 per cent from the previous close.