Marico, a leading player in the FMCG sector, has reported a 5% year-on-year (YoY) jump in its March quarter consolidated net profit at INR 320 crore. The profit stood at INR 305 crore in the corresponding period of the previous financial year.
Sequentially, there was a 17% decline compared to the INR 386 crore posted by the company in Q3FY24.
The revenue from operations saw a modest increase of 1.7% to INR 2,278 crore from INR 2,240 crore in the corresponding quarter of the previous year.
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On a standalone basis, the profit after tax (PAT) surged by 12% year-on-year (YoY) to INR 229 crore in Q4FY24. However, standalone revenue declined to INR 1,637 crore from INR 1,702 crore reported by the company in Q4FY23.
The company succeeded in reducing its expenses to INR 1,894 crore in Q4FY24 from INR 1,970 crore in Q3FY24 and INR 1,907 crore in Q4FY23. This marked a 4% decrease on a quarter-on-quarter (QoQ) basis and a 0.68% decrease year-on-year (YoY).
The consolidated revenue from domestic operations remained unchanged at INR 1,680 crore, compared to the revenue reported in the year-ago period of INR 1,683 crore. Conversely, international revenue increased to INR 598 crore in the reported quarter, up from INR 557 crore reported in the corresponding period of the previous financial year.
In the full financial year, the net profit surged by 16% year-on-year (YoY) to INR 1,502 crore from INR 1,322 crore in FY23. Conversely, revenue experienced an 11.40% year-on-year (YoY) decline in FY24, totaling INR 9,795 crore.
Marico shares concluded at INR 531.85 on the NSE, marking an increase of INR 14.95 or 2.89%.
Continue Exploring: Marico reports a 16% surge in net profit, reaching INR 386 Crore in Q3 FY24
