Marico's share price surged over 5 percent on Tuesday after the FMCG major reported a robust set of June quarter earnings, beating analysts' estimates. The stock gained as much as 5.28 percent to Rs 366.35 apiece on the NSE. At 11:40 am, the stock traded 4.54 percent up, quoting at Rs 366.35/share on the NSE.

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The makers of Parachute hair oil reported a healthy 23.2 percent rise in consolidated net profit for the quarter ended June 2020 at Rs 388 crore as against Rs 315 crore in the year-ago period. Net profit beat CNBC-TV18 analysts' poll estimates of Rs 293 crore.

Revenue from operations during the quarter declined 11.1 percent to Rs 1,925 crore from Rs 2,166 crore. CNBC-TV18 analysts' poll had estimated revenue of Rs 1,868 crore.

Volume during Q1FY21 declined to 14 percent versus poll estimates of 13-14 percent decline.

EBITDA margin improved by 300 bps to 24.3 percent from 21.3 percent, year on year.

"While the international business de-grew by 4 percent in constant currency terms, Bangladesh continued to hold the fort by delivering a commendable 10 percent constant currency growth, while other geographies recorded double-digit drops," Marico said in an exchange filing.

Saffola Edible Oils, continuing its growth journey, posted 16 percent volume growth, building on strong brand credentials, ramped up presence and increased in-home consumption, the company said.

Going ahead, the company expects to deliver 5-7 percent volume CAGR in Parachute Rigids over the medium term.

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