Marico slips 6%, hits 52-week low on disappointing December quarter results

In Q3FY20, consolidated revenue from operations declined 2 per cent YoY at Rs 1,824 crore.

Shares of Marico slipped 6 per cent to Rs 318 on the BSE on Friday after it reported 5 per cent year-on-year (YoY) decline in its domestic business revenue at Rs 1,380 crore in December quarter (Q3FY20), amid the bleak consumption sentiment, especially in rural area. The India business recorded a volume decline of 1 per cent.

The stock of the fast moving consumer goods (FMCG) company hit 52-week low today. It was trading at its lowest level since October 31, 2018.

In Q3FY20, consolidated revenue from operations was down 2 per cent YoY at Rs 1,824 crore.