Updated May 7th, 2024 at 11:40 IST

Marico shares surge 10% after Q4 earnings

The Mumbai-based FMCG giant disclosed a 4.9% increase in its consolidated net profit, reaching Rs 320 crore for the March quarter.

Reported by: Business Desk
Marico | Image:Marico Ltd
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Marico shares zoom: Marico Ltd, an FMCG major, witnessed a strong uptick in its share prices by nearly 10 per cent following the announcement of its fourth-quarter results ending March 2024. The stock surged 9.73 per cent to Rs 582.75 on the BSE, while at the NSE, it soared by 9.83 per cent to Rs 582.45 per share.

The Mumbai-based FMCG giant disclosed a 4.9 per cent increase in its consolidated net profit, reaching Rs 320 crore for the March quarter. This marks a notable improvement from the previous fiscal year's corresponding quarter, where the company's consolidated net profit stood at Rs 305 crore.

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During the quarter under review, Marico Ltd reported consolidated revenue from operations amounting to Rs 2,278 crore, slightly higher than the Rs 2,240 crore recorded in the same period last year. Furthermore, total expenses for the fourth quarter decreased to Rs 1,894 crore, down from Rs 1,907 crore in the previous fiscal year.

In terms of business performance, the domestic segment exhibited a 3 per cent underlying volume growth in Q4 FY24, while the international business showcased a robust constant currency growth of 10 per cent.

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Marico's Q4 FY24 financial results reflect a positive trajectory, indicating the company's resilience and adaptability amidst evolving market dynamics.

As of 11:35 am, Marico shares were trading 9.05 per cent up at Rs 579.10 apiece. 

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(With PTI inputs)

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Published May 7th, 2024 at 11:40 IST