Marico Q2 net profit up 17% to Rs 353 crore as revenue slips 1%
Marico's Q2 FY24 net profit rose 17% to Rs 353 crore even as revenue dipped 1% to Rs 2,476 crore. India business fell 3% on price cuts, but Foods and Digital-First portfolios scaled up amid slow rural recovery. Volume growth held at 3%, with 85% of the business gaining or sustaining share.
Marico's Q2 FY24 net profit rose 17% to Rs 353 crore though revenue slipped 1% to Rs 2,476 crore. India business fell 3% on price cuts; Foods and Digital-First portfolios scaled up amid slow rural recovery.
Why this matters
Marico's margin-led profit gains continue as it battles what its CEO calls a 'complex battleground' in Indian FMCG, leaning on Foods, Digital-First and D2C bets while distribution moats erode.
Retail-company signals accelerating, up 500400% QoQ.