Marico Q2 results: Net profit up 17% at ₹360 crore, revenue dips marginally

  • Marico's board has declared an interim dividend of 3 per equity share, which will be paid to the eligible shareholders by November 29.

Livemint
Updated30 Oct 2023, 04:48 PM IST
Marico recorded an EBITDA of  <span class='webrupee'>₹</span>497 crore in Q2FY24, higher by 14.8% on-year (Photo: Mint)
Marico recorded an EBITDA of ₹497 crore in Q2FY24, higher by 14.8% on-year (Photo: Mint)

Marico Ltd on October 30 reported a consolidated net profit of 360 crore for the second quarter of fiscal year 2023-24 (Q2FY24), marking a growth of 17.3 percent as compared to 307 crore reported in the year-ago period.

Sequentially, however, the net profit dropped by 17.5 percent from 436 crore reported in the June 2023 quarter.

The consumer goods company's revenue from operations dipped marginally as it came in at 2,476 crore. This was 0.8 percent lower from 2,496 crore recorded in the second quarter of the last fiscal. 

Quarter-on-quarter, the revenue from operations was flat, as it stood at 2,477 crore in the April-June period.

Also Read: Marico chairman differs with Narayana Murthy's '70-hour work week' suggestion, says, 'ultimate objective should be..

Marico's earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 497 crore in Q2FY24, higher by 14.8 percent from 433 crore in Q2FY23. 

The Parachute hair oil-maker's margin widened by 280 basis points to 20.1 percent in the September 2023 quarter, as compared to 17.3 percent in the corresponding period of the previous fiscal.

The company's total expense during the quarter under review came in at 476 crore, as compared to 567 crore in Q1FY24 and 400 crore in Q2FY23.

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The total comprehensive income was reported as 337 crore for Q2FY24, higher as compared to 280 crore in the year-ago period, but lower as against 418 crore recorded in the preceding quarter.

Marico informed the stock exchanges that its board has declared an interim dividend for FY24 of “ 3 per equity share of Re 1 each”. The record date for the dividend payout is November 7, the company said, adding that payment will be made by November 29.

In the trading session on October 30, Marico's scrip settled at 534.50 apiece on the BSE, down 0.62 percent as against the previous day's close.

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First Published:30 Oct 2023, 04:48 PM IST
HomeCompaniesCompany ResultsMarico Q2 results: Net profit up 17% at ₹360 crore, revenue dips marginally

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