Marico’s Q4 consolidated net profit surges 26%

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Marico’s Q4 consolidated net profit surges 26%

Mumbai, May 2 (IANS) FMCG major Marico on Tuesday reported a surge of 25.50 per cent in its consolidated net profit for the fourth quarter of 2016-17.

The company’s consolidated profit after tax increased to Rs 170.91 crore during the quarter under review compared to Rs 136.18 crore reported during the corresponding period in last fiscal.

The total income from operations of the company rose to Rs 1,322.15 crore in Q4 — up 2.45 per cent — from Rs 1,290.58 crore reported during the same quarter of 2015-16.

“During Q4FY17, India business delivered a healthy 10 per cent volume growth. The company witnessed normalcy returning after the demonetisation impact in Q3FY17,” Marico said in a statement.

“However, the international business posted a constant currency top line decline of five per cent (volume decline of five per cent) plagued by macro-environment issues in the MENA region. Overall, Marico delivered healthy volume growth of six per cent.”

On a yearly basis, the company’s net profit rose by 12.12 per cent to Rs 810.97 crore during 2016-17, from Rs 723.33 posted during the previous fiscal.

The yearly total income from operations of the company, however, fell to Rs 5,935.92 crore from Rs 6,024.45 crore reported during 2015-16 — down 1.47 per cent.

This is published unedited from the IANS feed.