Mumbai: Packaged consumer goods maker Marico Ltd on Friday reported a 24% increase in net profit for the quarter ended 31 March, largely in line with analyst estimates.
Consolidated net profit rose to Rs.138.43 crore in the quarter from Rs.110.03 crore a year earlier. An analysts’ survey by Bloomberg had forecast a profit of Rs.135 crore.
Marico’s consolidated net sales increased 6.5% to Rs.1,302.78 crore in the March quarter from Rs.1,222.98 crore. The Bloomberg survey had forecast sales of Rs.1,310.7 crore for the maker of Parachute and Saffola oils.
Shares of Marico rose 2.77% to Rs.258.30 apiece on BSE, while the Sensex was nearly unchanged at 25,606.62 points.