Marico declines 7% as consumption slowdown hits domestic biz in Q2

"The company had a soft second quarter in the face of a challenging liquidity and consumption environment in the domestic market, the management said

Shares of Marico slipped up to 7.3 per cent to Rs 362.35 on the BSE on Tuesday on tepid growth in the September quarter of FY20. Despite a 17 per cent rise in the net profit, weakness in the domestic business dented sentiment.

The fast moving consumer goods (FMCG)-major reported a 3 per cent year-on-year (YoY) decline in the domestic business turnover at Rs 1,398 crore due to "an accelerated slowdown in consumption". READ REPORT HERE

"While offtakes in some of the key categories declined during the quarter, Marico offtake growths were ahead of the category growths in these segments,