FMCG major Marico shares zoom nearly 10% after Q4 earnings

Shares of FMCG major Marico Ltd advanced nearly 10 per cent on Tuesday (May 7) after the company reported a 4.9 per cent rise in consolidated net profit at Rs 320 crore in the Q4. 

The company had posted a consolidated net profit of Rs 305 crore in the same quarter of the previous fiscal.

The company’s stock jumped 9.73 per cent to Rs 582.75 on the BSE and zoomed 9.83 per cent to Rs 582.45 apiece on the NSE.

Homegrown FMCG major consolidated revenue from operations during the quarter under review stood at Rs 2,278 crore, as against Rs 2,240 crore in the year-ago period. Total expenses are lower at Rs 1,894 crore, compared to Rs 1,907 crore a year ago,

In Q4 FY24, underlying volume growth was 3 per cent in the domestic business.

Among sectoral indices, FMCG remained the only Nifty sectoral index in green which inched over 1200 points to trade at 55,857.45.

Pharma, metal, energy, auto indices remained top laggards in a highly volatile session.

On Monday, both frontline indices Sensex and Nifty 50 eroded gains to close near flatline.

Sensex inched 17.39 points, or 0.02 per cent higher to settle at 73,895.54 while Nifty inched 33.15 points, or 0.15 per cent lower at 22,442.70.