Marico rose 2.38% to Rs 217.10 at 14:26 IST on BSE after consolidated net profit rose 31% to 135 crore on 10% growth in revenue from operations to Rs 1201 crore in Q3 December 2013 over Q3 December 2012.
The Q3 result was announced during trading hours today, 31 January 2014.
Meanwhile, the S&P BSE Sensex was up 29.72 points or 0.14% at 20,527.97.
On BSE, so far 48,000 shares were traded in the counter as against average daily volume of 31,754 shares in the past one quarter.
The stock hit a high of Rs 220 and a low of Rs 213 so far during the day. The stock had hit a record high of Rs 251.10 on 31 May 2013. The stock had hit a 52-week low of Rs 190.50 on 25 June 2013.
The stock had underperformed the market over the past one month till 30 January 2014, sliding 3.68% compared with the Sensex's 3.05% fall. The scrip had, however, outperformed the market in past one quarter, advancing 0.17% as against Sensex's 2.55% fall.
The large-cap FMCG company has equity capital of Rs 64.49 crore. Face value per share is Re 1.
The Q3 December 2013 result comprises Marico's FMCG business only (Domestic and International). By virtue of the High Court order dated 17 October 2013 relating to the demerger of Kaya, it is demerged from the Marico Group with effect from 1 April 2013.
Marico said that Q3 December 2013 results are not strictly comparable with Q3 December 2012 results due to the change in the method of depreciation from WDV to SLM carried out in Q4 March 2013.The depreciation charge for Q3 December 2013 is lower by Rs 2.81 crore when compared to Q3 December 2012. The post-tax impact in Q3 December 2013 is Rs 1.87 crore. The normalized profit growth for Q3 December 2013 is 29% YoY, Marico said.
Marico said that the business has continued to grow in volumes albeit at a lower rate. Due to the weak demand environment, the growth rates of various segments have come down, the company said. However, the company's market shares have remained intact and in some cases improved, demonstrating strong brand equity, it added. The growth in profits continues to be robust, Marico said in a statement.
Marico is a leading Indian group in consumer products & services in the global beauty and wellness space.
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