FMCG firm Marico Ltd today reported a consolidated net profit of Rs 185.27 crore for the quarter ended June 30 on the back of net sales of Rs 1,619.23 crore.
In the same period of the previous fiscal, the company had posted a net profit of Rs 157.72 crore and net sales of Rs 1,379.66 crore, it said in a BSE filing.
Marico said results are not comparable with corresponding quarter last year as its skincare business 'Kaya' was demerged in October 2013.
Overall expenses during the quarter stood at Rs 1,376.85 crore as against Rs 1,173.28 crore in the same quarter last year.
Shares of Marico were trading 2.28 per cent down at Rs 255.10 apiece during afternoon trade on the BSE.
Marico to double sales in 4 yrs; focus on emerging markets
FMCG firm Marico is aiming to double its sales in the next four years with emerging markets of Asia and Africa expected to be lead the growth, with focus on key categories including hair, food and wellness.
The company in an investors' update outlined its medium term strategic approach stating its business ambition is to "double topline in 4 years".
The company at present has operations in Bangladesh, Egypt, the Middle East, South Africa, Malaysia and Vietnam and is also looking at expanding its global operations further.
"Expansion in adjacent markets such as Nepal, Pakistan, Cambodia, Myanmar, Sri Lanka, North Africa etc., is expected to contribute up to Rs 100 crore (USD 17 million) by next year," the company added.
Marico's international business contributed 16 per cent to the company's total turnover and had revenue of Rs 1,168 crore in FY 14.
It said that it expects "top line growth (from international sales) in the region of 15 to 20 per cent in the medium term" and is looking at maintaining its international margins in the region of 14-15 per cent.
"The focus of international business in the coming years will be organic growth. Margins will be maintained in a band and re-invested in the business to reinforce established brands and build new growth engines for the future," it added.
Along with growth expectations from the emerging markets, the company is also bullish on its key categories such as hair and skin.
"The company's aim is to participate in all the sub-segments (of hair care) and have a wider portfolio to drive growth. There may also be