Marico shares slip 2.5% after Q1 earnings
During the day, Marico shares lost as much as 4.99% to Rs316.90 on BSE
New Delhi: Shares of FMCG player Marico on Tuesday fell 2.5% after the company reported an 11.92% decline in its consolidated net profit for the first quarter ended 30 June.
The scrip declined 2.50% to settle at Rs325.20 on BSE.
During the day, it lost 4.99% to Rs316.90. At NSE, shares of the company slipped 2.49% to close at Rs 326.35.
In volume terms, 6.67 lakh shares of the company were traded on BSE and over 52 lakh shares changed hands at NSE during the day.
Marico on Tuesday reported an 11.92% decline in its consolidated net profit to Rs235.94 crore for the first quarter ended 30 June on account of reduction in sales due to transition to the GST regime.
The company had posted a net profit of Rs267.90 crore during the same period previous fiscal, Marico said in a BSE filing.
Total income from operations during the quarter under review stood at Rs1,715.28 crore as against Rs 1,781.78 crore in the April-June quarter of 2016-17, down 3.73%.
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