 "Marico")
FMCG firm Marico on Friday reported a 13.5 per cent rise in its net profit to Rs 436 crore in the quarter that ended on June 30 as compared to Rs 377 crore in the same period last year. As compared to Rs 305 crore in the March quarter, the profit was up 42.9 per cent.
The revenue from operations was down 3.16 per cent to Rs 2,477 crore from Rs 2,558 crore last year. Sequentially, the revenue from operations was up 10.5 per cent.
The earnings before interest, taxes, depreciation, and amortisation (Ebitda) in the quarter was recorded at Rs 574 crore with a margin of 23.2 per cent.
Earlier, the company announced that it will acquire a majority stake in Satiya Satiya Nutraceuticals, which owns plant-based nutrition brand Plix, for a consideration of Rs 369.01 crore.
The company has signed a definitive agreement to acquire a majority stake of 58 per cent in Satiya Nutraceuticals for a consideration of Rs 369.01 crore, Marico said in a regulatory filing.
"The transaction will further expand Marico's total addressable market in the value-added foods and nutrition segments as well as presence in the rapidly growing Health & Wellness category," it said.
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It has completed acquisition of 32.75 per cent of the paid-up share capital of Satiya Nutraceuticals through primary infusion and secondary buyouts, completed on July 26.
It will acquire the remaining 25.25 per cent of the paid-up share capital of Satiya Nutraceuticals on a fully-diluted basis, in one or more tranches by May 2025.
