Marico Q1 results: Net profit rises 8.66% to ₹464 crore, revenues up 6.7% as premiumisation remains in focus

Marico Q1 results: Marico Limited announced an 8.66 per cent rise in net profit to ₹464 crore in its April to June quarter results, compared to ₹427 crore in the same quarter the previous year, according to the company's consolidated statements filed on the Bombay Stock Exchange on Monday, August 5.

Marico shares closed 1.49 per cent higher at ₹671.80 after Monday's trading session, compared to ₹661.95 at the previous market close. The company released the first quarter results during the market operating hours.

The fast-moving consumer goods (FMCG) company recorded a 6.7 per cent increase in revenue from operations to ₹2,643 crore for the first quarter of the financial year 2024-25, compared to ₹2,477 crore in the same period the previous year.

The company's India revenues increased 7.38 per cent from April to June to ₹1,926 crore, compared to ₹1,827 crore in the same quarter of the previous financial year.

Marico's oil business made up nearly 72 per cent of the company's revenue growth. The company sells Parachute coconut oil, contributing 34 percent to the domestic revenue figures. Also, Saffola edible oils contributed 16 per cent of the domestic sales, and value-added hair oils contributed 22 per cent of the sales in India, according to data collected from the company's investor presentation.

Marico's profitability in terms of EBITDA margin grew 50 basis points (bps) to 23.7 per cent in the April to June quarter, compared to 23.2 per cent in the same quarter the previous year.

The company is focusing on diversification and premiumisation of the company's India business.

“During FY25, we will scale up Phase 1 markets and expand into more states. In addition to improved direct reach and weighted distribution, we expect Project SETU to drive market share gains across categories in urban and rural markets and enhance assortment levels in urban stores, thereby enabling diversification and premiumisation in the domestic business,” the company said in the results filing with BSE on Monday.