Marico In­dia net up 26% at R138 cr

The Financial Express - - COMPANIES - Fe Bureau

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.

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