Tuesday, 18 May, 2021
Home Business Marico Surges 10%, Hits 52-Week High After March Quarter Earnings

Marico Surges 10%, Hits 52-Week High After March Quarter Earnings

Marico’s income from operations jumped 34.5 per cent to Rs 2,012 crore.

Shares of widespread cooking oil maker Saffola and Parachute hair oil – Marico Restricted rose as a lot as 10 per cent to hit a recent 52-week excessive of Rs 452.80 after it reported March quarter earnings. Marico’s revenue after tax rose 14 per cent to Rs 227 crore in March quarter from Rs 199 crore throughout the identical quarter final 12 months. Marico’s income from operations jumped 34.5 per cent to Rs 2,012 crore in contrast with Rs 1,496 crore throughout the identical interval final 12 months. (Monitor Marico inventory worth right here)

“Through the quarter Marico’s income had been backed by sturdy quantity development of 25 per cent within the home enterprise and fixed foreign money development of 23 per cent within the worldwide enterprise,” Marico mentioned in a press launch.

As macroeconomic indicators signaled some positivity for a lot of the quarter, the Firm witnessed sturdy momentum in every of the core portfolios of the India enterprise whereas steadily strengthening its play in Meals by way of innovation, Marico mentioned.

“Saffola refined edible oils grew 17 per cent in volumes in Q4FY21. The model has delivered double-digit quantity development for the sixth consecutive quarter on the again of elevated family penetration and rising relevance of wholesome cooking. The Firm took worth will increase in This autumn as properly given the sequential inflation within the edible oils desk. In H2, the cumulative MRP enhance has been three per cent,” Marico mentioned.

“Parachute Rigids grew by 29 per cent in volumes in Q4FY21 on a lockdown-affected base. The model firmly held its floor, regardless of a pullback of client gives and MRP enhance of four per cent throughout the quarter, in response to the sharp inflation in copra costs. In second half, the cumulative enhance in efficient client costs has been 9 per cent. The model maintained its stronghold within the branded coconut oil market with the inflexible packs gaining market share of 120 bps throughout the quarter,” Marico added.

As of three:12 pm, Marico shares traded 8.6 per cent greater at Rs 447, outperforming the Sensex which was down 0.12 per cent.

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