Marico Q2 results: Net profit up 17% at ₹360 crore, revenue dips marginally
Marico Ltd on October 30 reported a consolidated net profit of ₹360 crore for the second quarter of fiscal year 2023-24 (Q2FY24), marking a growth of 17.3 percent as compared to ₹307 crore reported in the year-ago period. The consumer goods company's revenue from operations, however, dipped marginally as it came in at ₹2,476 crore.
This was 0.8 percent lower from ₹2,496 crore recorded in the second quarter of the last fiscal. The earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at ₹497 crore in Q2FY24, higher by 14.8 percent from ₹433 crore in Q2FY23.
The Parachute hair oil-maker's margin widened by 280 basis points to 20.1 percent in the September 2023 quarter, as compared to 17.3 percent in the corresponding period of the previous fiscal. Marico also informed the stock exchanges that its board has declared an interim dividend for FY24 of “ ₹3 per equity share of Re 1 each".
The record date for the dividend payout is November 7, the company said, adding that payment will be made by November 29. (This is a developing story. Please check back for more updates)"Exciting news! Mint is now on WhatsApp Channels
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