Q4 Results: Marico's PAT Rises 20% YoY The profit after tax(PAT) stood at INR 302 crore compared with INR 251 crore in the same quarter in FY22
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FMCG major, Marico reported a 20 per cent year-on-year (YoY) increase in the consolidated net profit for the quarter ended March. The PAT stood at INR 302 crore compared with INR 251 crore in the same quarter in FY22.
Revenue from operations rose marginally by 4 per cent YoY to INR 2,240 crore. EBITDA stood at INR 393 crore up by 14 per cent from INR 346 crore in Q4FY22. Besides, the company's gross margins expanded by 294 bps YoY.
It said, the India business continued to better the performance of the preceding quarter with an underlying volume growth of 5 per cent. Volume growth on a 4-year CAGR basis stood at 6 per cent. India Business delivered a turnover of INR 1,683 crore, up 2 per cent on a YoY basis. The international business delivered constant currency growth of 16 per cent.
"FY23 ended on a reassuring note with improving trends across all performance parameters, accompanied by indications of a gradual sectoral recovery. The domestic business delivered a far more broad-based growth with visibly positive results in the portfolio diversification journey, while the international business continued to reinforce its underlying strength amidst a challenging operating environment. As we move into next year, we expect the pace of growth in volumes, revenues and earnings to move in the right direction, aided by an evolving portfolio of entrenched and budding franchises, distribution expansion and adequate investments in market development and brand building," said Saugata Gupta, MD & CEO, Marico.
In the near term, the domestic business will drive volume led growth and market share gains across portfolios, aided by distribution expansion, aggressive cost controls and adequate investment in market development and brand building. "We expect a gradual uptick in revenue growth as pricing interventions come into the base in the first half of FY24. The International business has consistently been delivering a resilient performance despite macroeconomic challenges in some of the geographies. We are confident of maintaining the double-digit growth momentum in FY24," the company said in a statement.
