Marico Q1 net up 28% at Rs 238 crore

FMCG firm Marico Ltd today reported a 28.36 per cent increase in consolidated net profit of Rs 237.83 crore for the first quarter ended June 30.

The company had reported net profit of Rs 185.27 crore in the corresponding quarter a year ago.

Marico's net sales in the quarter under review stood at Rs 1,781.47 crore, up 10.01 as against net profit of Rs 1,619.23 crore in the corresponding quarter in the previous year, the company said in a BSE filing.

"The overall sales growth was bolstered by strong growths in the focused rigid bottle segment of coconut oil and value added hair oil portfolio," the company said in a statement.

Marico's domestic business grew by 12 per cent in the quarter while International business posted a growth of 4 per cent.

Its overall expenses during the quarter stood at Rs 1,478.53 crore, an increase of 7.38 per cent as against Rs 1,376.85 crore in the same quarter last year.

Shares of Marico were trading 1.66 per cent up at Rs 449.55 apiece in the afternoon trade on BSE.