FMCG firm Marico’s consolidated net profit grew by 23.71 per cent at Rs 197.8 crore for the December quarter on account of lower expenses.
The company had posted a net profit of Rs 159.88 crore in the corresponding period of the previous fiscal.
Net sales of the company rose by 7.29 per cent to Rs 1,554.6 crore for the third quarter of the current fiscal as against Rs 1,448.92 crore in the year-ago period, Marico said in a BSE filing.
Overall expenses stood at Rs 1,287.29 crore, up 3.89 per cent, from Rs 1,238.98 crore in the December quarter of the previous fiscal.
Marico MD and CEO Saugata Gupta said: “The macro environment during the quarter continued to be tough. Marico, however, had a satisfactory quarter clocking double digit volume growths in India and double digit constant currency growth in international geographies. We are hopeful of maintaining this momentum going forward.”
The company’s domestic business achieved a turnover of Rs 1,215 crore during the quarter under review, a growth of about 7 per cent over the corresponding period of previous fiscal.
While, its international business achieved a turnover of Rs 341 crore in the third quarter, a growth of 8 per cent in constant currency basis.
In a separate filing, Marico said the company has declared a second interim dividend of Rs 1.50 per equity share of Rs 1 each for 2015-16 fiscal.