 "Marico gains on 1:1 bonus")
Shares of Marico has moved higher by nearly 4% to Rs 407 on the NSE after the board of directors recommended bonus issue in the ratio of 1:1 i.e. one equity share for every one share held in the company and has also declared its first interim dividend of 175% (Rs 1.75 per share).
Meanwhile, the personal products maker has reported 27% year on year (YoY) jump in consolidated net profit at Rs 151 crore for the quarter ended September 30, 2015 (Q2FY16).
During the quarter, the company posted revenue from operations of Rs 1,485 crore a growth of about 4% over Q2FY15. The topline was driven by 5.5% volume growth in India leading to overall volume growth of 4%, Marico said in a release.
Gross margins expanded by 500 basis points in deflationary environment; aggressive plough back in advertisement and sales promotion (ASP), it added.
At 03:25 PM, the stock was up 2.6% at Rs 401 on the BSE as compared to 0.19% fall in the S&P BSE Sensex. A combined 4.9 million shares changed hands on the counter on the BSE and NSE.
Meanwhile, the personal products maker has reported 27% year on year (YoY) jump in consolidated net profit at Rs 151 crore for the quarter ended September 30, 2015 (Q2FY16).
During the quarter, the company posted revenue from operations of Rs 1,485 crore a growth of about 4% over Q2FY15. The topline was driven by 5.5% volume growth in India leading to overall volume growth of 4%, Marico said in a release.
Gross margins expanded by 500 basis points in deflationary environment; aggressive plough back in advertisement and sales promotion (ASP), it added.
At 03:25 PM, the stock was up 2.6% at Rs 401 on the BSE as compared to 0.19% fall in the S&P BSE Sensex. A combined 4.9 million shares changed hands on the counter on the BSE and NSE.