Marico’s stock gained about 2 per cent on Wednesday on account of good traction in volumes of its flagship brand — Parachute hair oil (volume growth of 9 per cent). However, Marico’s overall domestic volume rose just by 5 per cent, while other FMCG players reported double-digit volume growth in Q3.
This was due to muted volume growth of Saffola and smaller coconut oil brands. A 15 per cent year-on-year (YoY) rise in net sales to Rs 1,861 crore (marginally below analysts’ expectations of Rs 1,867 crore) was also driven by higher prices, mainly of its Parachute hair oil.
In the near