Marico India net up 26% at R138 cr
Mumbai, April 29: FMCG major Marico India on Friday recorded a year-on-year net profit growth of 26% at R138 crore for the three months ending March 31, 2016 due to lower commodity prices and an increase in other incomes. Net profit for FY16 was recorded at R725 crore. The company sold its Goa property which was included in the post tax gain.
The total income of the company grew by 7% with R1,307 crore over the previous year's quarter. EBITDA increased by 16.6% at R217 crore for the quarter where as it grew by 17.3% at R1,063 for FY 16. The company recorded an overall value growth of 10.5% for Q4 FY16.
Company's international business grew by an impressive growth rate of 11% at R321 crore with Bangladesh and South East Asia comprising 45% and 25% of their inter national business respectively. Turnover from the Indian market grew by 8.4% at R986 crore.
According to the company's statement near term outlook remains positive for all territories. In the quarter market share gains continued in more than 80% of the portfolio on 12 months MAT basis; almost the entire India portfolio gained share.