Marico’s Q2 consolidated net profit up 2.5%

Mumbai, Oct 30 (IANS) FMCG major Marico on Monday reported a 2.48 per cent rise in its consolidated net profit to Rs 185.04 crore for the second quarter (Q2) ended September 30.

The company's net profit during Q2 2016-17 stood at Rs 180.55 crore.

According to the company, its total income from operations rose to Rs 1,557.73 crore in Q2 -- up 6.14 per cent -- from Rs 1,467.60 crore reported during the same quarter of 2016-17.

"In Q2FY18, India business recorded a smart recovery with a volume growth of eight per cent coupled with a healthy margin performance," Marico said in a statement.

"The volume growth is mainly attributable to competitive pricing, continued investments and pipeline refilling in general trade," it added.

On a standalone basis, the company's net profit dipped by 10.50 per cent to Rs 160.31 crore during Q2 of 2017-18, from Rs 179.13 crore posted during the same period in the previous fiscal.

During the quarter ended September 30, the total income from operations of the company was reported at Rs 1,278.49 crore -- up 4.85 per cent -- from Rs 1,220.91 crore reported during Q2 2016-17.

The statement added that the Board of Directors of the company has declared an interim dividend of 175 per cent (Rs 1.75 per share) on its paid up equity share capital of Rs 129.07 crore, up from 150 per cent last year.

At 3.22 p.m., the company's scrip on the BSE traded 0.51 per cent higher at Rs 312.45 per share.

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