On the back of strong sales performance, FMCG company Marico on Monday reported a 17.46 % increase in net profit to R185.27 crore compared to R157.72 crore in the year-ago period.
The company, which sells Saffola edible oil, posted a 17.55 % increase in total income to R1641.45 crore in the first quarter of FY15 against R1,396.31 crore in the corresponding quarter last year.
However, Marico said the results were not comparable with the corresponding quarter last year as ‘Kaya’ was demerged in October 2013.
Saugata Gupta, managing director& CEO, Marico, said, “The fundamentals of the business continue to be strong with market shares improving across 80% of the portfolio.”'
According to Gupta, the company will continue to invest behind core and simultaneously create portfolio of the future in adjacent categories and markets.
“Through many initiatives in both India and International business, we are confident of taking Marico into the next orbit of growth," he added. Marico's international business contributed 16% to the company's total turnover and had revenue of R1,168crore in FY14.