 "Marico hits record high post June quarter results")
Marico has surged 10% to Rs 281 on National Stock Exchange (NSE) after the company reported a better-than-expected 19% year-on-year jump in consolidated net profit at Rs 185 crore for the quarter ended June 30, 2014 (Q1), on back of strong volume growth. The personal products maker had profit of Rs 158 crore in year ago quarter.
The company has posted revenue from operations of Rs 1,623 crore a growth of about 25% over the previous year quarter.
The topline was driven by an overall volume growth of 5% with a 6.5% volume growth in India. The domestic business recorded a growth of 28% while the international business posted a growth of 16%, Marico said in a statement.
Analysts, on an average, had expected profit of Rs 169 crore on sales of Rs 1,534 crore for the quarter.
Meanwhile, Marico is aiming to double its sales in the next four years with emerging markets of Asia and Africa expected to be lead the growth, with focus on key categories including hair, food and wellness. The company said top line growth in the region of 15% to 20% in the medium term with an operating margin in the band of 14% to 15%.
The stock opened at Rs 258 and hit a record high of Rs 295 on NSE. The trading volumes on the counter surged more than five-fold with a combined 1.79 million shares changing hands so far on NSE and BSE.
The company has posted revenue from operations of Rs 1,623 crore a growth of about 25% over the previous year quarter.
The topline was driven by an overall volume growth of 5% with a 6.5% volume growth in India. The domestic business recorded a growth of 28% while the international business posted a growth of 16%, Marico said in a statement.
Analysts, on an average, had expected profit of Rs 169 crore on sales of Rs 1,534 crore for the quarter.
Meanwhile, Marico is aiming to double its sales in the next four years with emerging markets of Asia and Africa expected to be lead the growth, with focus on key categories including hair, food and wellness. The company said top line growth in the region of 15% to 20% in the medium term with an operating margin in the band of 14% to 15%.
The stock opened at Rs 258 and hit a record high of Rs 295 on NSE. The trading volumes on the counter surged more than five-fold with a combined 1.79 million shares changing hands so far on NSE and BSE.