Marico consolidated PAT rises 5% YoY to Rs 320 crore in Q4 FY24

FMCG major Marico on Monday reported a 5% year-on-year (YoY) jump in its March quarter consolidated net profit at Rs 320 crore. The profit stood at Rs 305 crore in the corresponding period of the previous financial year.

On a sequential basis, it was down 17% as against Rs 386 crore posted by the company in Q3FY24.

The revenue from operations rose merely 1.7% to Rs 2,278 crore from Rs 2,240 crore in the year-ago quarter.

On a standalone basis, the PAT rose 12% YoY to Rs 229 crore in Q4FY24. The standalone revenue stood at Rs 1,637 crore, down from Rs 1,702 crore posted by the company in Q4FY23.

The company managed to trim its expenses to Rs 1,894 crore in Q4FY24 from Rs 1,970 crore in Q3FY24 and Rs 1,907 crore in Q4FY23. They were down 4% on a quarter-on-quarter (QoQ) basis and 0.68% on a YoY basis.

The consolidated revenue from domestic operations stood at Rs 1,680 crore which was flat over the revenue reported in the year-ago period at Rs 1,683 crore. Meanwhile, international revenue was up at Rs 598 crore in the reported quarter over Rs 557 crore reported in the corresponding period of the last financial year.

For the full financial year, the net profit grew 16% YoY to Rs 1,502 crore from Rs 1,322 crore in FY23. On the other hand, revenue saw an 11.40% YoY downtick in FY24 to Rs 9,795 crore.

Marico shares ended at Rs 531.85 on the NSE, up by Rs 14.95 or 2.89%.