Q4 Re­view

The Economic Times - - Markets + Finance -

In­vestors in fast mov­ing con­sumer goods (FMCG) com­pa­nies may have to brace them­selves for un­der­per­for­mance for some more quar­ters be­fore ex­pect­ing an uptick in growth. The cu­mu­la­tive March-quar­ter per­for­mance of 58 FMCG com­pa­nies un­der­lined the im­pact of a weak econ­omy on con­sump­tion. Their ag­gre­gate rev­enue growth at 13.5% re­mained sub­dued for the third con­sec­u­tive quar­ter — growth has, in fact, been driven more by value than vol­ume. Their op­er­at­ing mar­gin of 19.5% was the low­est in three quar­ters, hurt by high

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