Marico falls 6% from record high on disappointing Q1 results

The stock dipped 5% to Rs 317, falling 6% from its record high of Rs 336 touched in intra-day trade

Marico has dipped 5% to Rs 317 in intra-day trade, falling 6% from its record high of Rs 336 touched in early morning trade on BSE, after reported 215 bps declined in EBITDA margin at 19.2% in June quarter (Q1FY18).

The personal products company posted 12% year-on-year (YoY) declined in net profit at Rs 232 crore, while operational revenue fell 4% YoY to Rs 1,692 crore, over the previous year quarter.

Analysts on an average had expected net profit of Rs 254 crore on revenues of Rs 1,743 crore.

“For the quarter Q1FY18, India business witnessed volume