Marico estimates low-twenties percentage quarterly revenue growth

India's Marico said on Thursday consolidated revenue registered a low-twenties percentage growth in the quarter ended June 30, driven by sustained demand from rural consumers, although margins remained under pressure.

  The consumer goods maker forecasts gross margin to remain under "incremental pressure" due to high costs of key raw materials such as copra, but expects these pressures to ease in the second half of the fiscal year.

  Marico said it sees growth in operating profit to be modest on an on-year basis in the first quarter. 

 

  The 'Saffola' oil maker has benefited from improving rural demand for its products at a time when consumer goods makers have been dealing with sluggish urban consumption amid high cost of living. 

Marico said that demand remained steady in the first quarter with improving trends in its rural markets.

  It added that it expects overall sentiment to improve gradually in upcoming quarters on the back of easing inflation, a favourable monsoon season and policy stimulus.