Mumbai: FMCG company Marico on Wednesday said its net profit rose by 8.9% to Rs 44.40 crore in the fourth quarter ended 31 March 2009.
In a filing to the Bombay Stock Exchange, Marico said it had a net profit of Rs40.77 crore in the same quarter ended March 2008.
The net sales of the company surged to Rs561.16 crore in the quarter under review as against Rs465.87 crore in the same quarter ended March, 2008.
For the year ended 31 March, the company has posted a net profit of Rs188.71 crore from Rs169.07 crore last fiscal, up 11.61%.
Marico Ltd has decided to divest its entire stake in its wholly-owned subsidiary, Sundari LLC, to a US-based limited liability company, Wellness Systems. The transaction is, however, subject to necessary regulatory approvals, the filing added.
Shares of Marico were trading at Rs67.55, up 6.04% on the BSE.