Mumbai: Fast-moving consumer goods major Marico on Thursday posted a 21.6 percent increase in first-quarter net profit to Rs 315 crore, compared to Rs 250 crore in the year-on period.
The company’s revenue from operations during Q1 stood at Rs 2,166 crore, up 6.8 percent due to underlying domestic volume growth of six percent and constant currency growth of seven percent in the international business.
“The company delivered strong earnings growth on the back of resilient volume growth amid moderation in the overall demand environment in the domestic market,” it said in the statement.
Marico’s domestic business posted a turnover of Rs 1,731 crore, marking a growth of six percent year-on-year.
The company expects to achieve a target of eight to ten percent volume growth and healthy market share gains in the India business in the coming months.