FMCG major Marico on Friday reported a 5 per cent rise in its net profit to ₹333 crore during the third quarter ended December 2022. This is against a net profit of ₹317 in the year ago period.
During the quarter, the FMCG sector in India showed some signs of a gradual improvement in overall demand trends, in addition to the festive spirit and oncoming winter season providing some fillip to specific categories. With retail inflation easing month on month, the sector recorded its lowest volume decline in the last five quarters. Within the sector, Foods categories stayed on the growth path, while HPC categories were still under pressure. Rural remained a drag although its trajectory improved sequentially, while urban and premium categories continued to fare batter,” said Marico
During the quarter, the FMCG sector in India showed some signs of a gradual improvement in overall demand trends, in addition to the festive spirit and oncoming winter season providing some fillip to specific categories. With retail inflation easing month on month, the sector recorded its lowest volume decline in the last five quarters. Within the sector, Foods categories stayed on the growth path, while HPC categories were still under pressure. Rural remained a drag although its trajectory improved sequentially, while urban and premium categories continued to fare batter,” said Marico
The underlying domestic volume growth in Q3 was 4 per cent. The domestic revenues was at ₹1,851 Crore, up 2% YoY, said Marico in its filing.
” India business also witnessed a pickup in the performance over the preceding quarter on the back of steadying trends in the core franchises of Coconut Oil and Saffola Edible Oils coupled with continued momentum in Foods and Premium Personal Care portfolios. On a 3-year CAGR basis, quarterly domestic volume growth stood at a healthy 6%.
General Trade declined in mid-single digits, with rural still behind urban. MT and E-commerce grew in high double digits, said the company.
The international business sustained its healthy growth momentum with constant currency growth of 8%.
