Marico gained 2.76% to Rs 520.20 after the FMCG major announced that India’s business improved over Q2FY23 to post a mid-single-digit volume growth in Q3FY23.
Value Added Hair Oils had a subdued quarter, mainly reflecting neutral sentiment in rural and mass personal care categories. On the other hand, Premium Personal Care witnessed double-digit growth with sectoral trends.
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During the second quarter, revenue grew in the low single digits YoY.
The company is India’s leading consumer products company in the global beauty and wellness space. Its portfolio includes Saffola, Parachute, Saffola FITTIFY Gourmet, Saffola Mealmaker, Saffola ImmuniVeda, Parachute Advansed, Hair & Care, Mediker, Nihar Naturals, Revive, Coco Soul, Set Wet, Livon and Beardo.
On a consolidated basis, the net profit of The FMCG reported a 3% fall in net profit to Rs 301 crore 3% rise in revenue from operations to Rs 2,496 crore in July-September of FY23 over July-September of FY22.
