Marico Shares Surge 10% on Strong Q4 Earnings
May 07, 2024 11:04
Marico Ltd shares soared nearly 10% on Tuesday after the FMCG giant reported a 4.9% rise in consolidated net profit for the fourth quarter ended March 2024.
Photograph: Niharika Kulkarni/Reuters
New Delhi, May 7 (PTI) Shares of FMCG major Marico Ltd on Tuesday climbed nearly 10 per cent after the company reported a 4.9 per cent rise in consolidated net profit in the fourth quarter ended March 2024.
The stock jumped 9.73 per cent to Rs 582.75 on the BSE.
At the NSE, it zoomed 9.83 per cent to Rs 582.45 apiece.
Homegrown FMCG major Marico Ltd on Monday reported a 4.9 per cent rise in consolidated net profit to Rs 320 crore in the March quarter.
The company had posted a consolidated net profit of Rs 305 crore in the same quarter of the previous fiscal.
Consolidated revenue from operations during the quarter under review stood at Rs 2,278 crore, as against Rs 2,240 crore in the year-ago period.
Total expenses in the fourth quarter were lower at Rs 1,894 crore, compared to Rs 1,907 crore a year ago, the company said.
In Q4 FY24, underlying volume growth was 3 per cent in the domestic business. The company reported constant currency growth of 10 per cent in the international business.
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