FMCG firm Marico Ltd on Friday reported a 18.6 percent increase in consolidated net profit at Rs 305 crore for the fourth quarter ended March 2023 as compared to Rs 257 crore in the corresponding quarter of last fiscal. The profit was much higher than CNBC-TV18's poll of Rs 284 crore.

Share Market Live

NSE

The company's revenue from operations rose 3.6 percent to Rs 2,240 crore during the quarter under review, against Rs 2,161 crore a year ago.

Marico's operating profit, calculated as earnings before interest and tax, depreciation and amortization (EBITDA), came in at Rs 393 crore, while margins were up 17.5 percent.

The firm's total expenses rose 2 percent to Rs 1,907 crore from Rs 1,863 crore in the year-ago quarter.

The FMCG company has also re-appointed Saugata Gupta as MD and CEO for two years with effect from April 1, 2024 to March 31, 2026. The firm also informed the stock exchanges about the appointment of Rajan Bharti Mittal as an additional director in the capacity of Independent Director for five years with effect from July 1, 2023 to June 30, 2028.

During the quarter, the company has said that it has acquired an additional stake of 7.62 percent in Apcos Naturals Private Limited, by way of investment in fresh issuance of equity shares increasing the company's holding to 60 percent.

Shares of Marico Ltd on Friday closed 0.80 percent down at Rs 493.25 apiece on BSE.

First Published:May 5, 2023 4:30 PM IST