FMCG firm Marico today said its consolidated net profit rose by 9.68% to Rs 85.87 crore for the second quarter ended September 30 due to strong sales growth in the consumer products business.
It had posted net profit of Rs 78.29 crore in the corresponding period of previous fiscal, Marico Ltd said in a filing to the BSE.
Net sales of the company rose to Rs 1,155.89 crore during the July-September quarter of 2012-13 fiscal, as compared to Rs 967.40 crore in the same period last fiscal.
Marico's board, which met today, approved interim dividend of 50% on its equity share capital of Rs 64.45 crore.
The company said the recently acquired youth brands -- Set Wet, Zatak and Livon grew by 28% over their turnover in second quarter of FY12.
Marico Consumer Products Business CEO Saugata Gupta said: "We are happy about the way the integration of the acquired Youth brands is panning out. These are strong brands and we expect them to continue to record healthy growth rates."
Its consumer products business (CPB) achieved a turnover of Rs 793 crore during the quarter - up about 19% over same period of 2011-12 fiscal.
The turnover achieved from the youth brands during the quarter stood at Rs 46 crore during the second quarter ended September 30, 2012, the company said.
During second quarter of 2011-12 fiscal the business was being run by Reckitt Benckiser, it added.
"Marico's focus on building a well-entrenched consumer brand franchise is paying off. Our brands have continued to deliver volume growths and gain market share across categories," Marico Group CFO Milind Sarwate said.
During the quarter under review, the company's international business, focused largely on Bangladesh, MENA (Middle East and North Africa), South Africa and South East Asia, registered a growth of 16% over corresponding period of previous fiscal.
Marico scrip was down Rs 204.45 on the BSE, down 4.37% from its previous close.
