Marico shares slip 2.5 pc after Q1 earnings

Shares of FMCG player Marico today fell 2.5 per cent after the company reported an 11.92 per cent decline in its consolidated net profit for the first quarter ended June 30.
The scrip declined 2.50 per cent to settle at Rs 325.20 on BSE. During the day, it lost 4.99 per cent to Rs 316.90.
At NSE, shares of the company slipped 2.49 per cent to close at Rs 326.35.
In volume terms, 6.67 lakh shares of the company were traded on BSE and over 52 lakh shares changed hands at NSE during the day.
Marico today reported an 11.92 per cent decline in its consolidated net profit to Rs 235.94 crore for the first quarter ended June 30 on account of reduction in sales due to transition to the GST regime.

The company had posted a net profit of Rs 267.90 crore during the same period previous fiscal, Marico said in a BSE filing.
Total income from operations during the quarter under review stood at Rs 1,715.28 crore as against Rs 1,781.78 crore in the April-June quarter of 2016-17, down 3.73 per cent.