On November 4, Marico Limited (Marico) reported a 3% decrease in its consolidated net profit for the second quarter of FY22-23 (Q2FY23), coming in at Rs 301 crore as opposed to Rs 309 crore in the same period last year. Sequentially, the profit decreased by 19% from the Rs 371 crore earned between April and June.
Consolidated sales for the large FMCG company increased by 3% year over year to Rs 2,496 crore from Rs 2,419 crore in the same quarter last year. Sequentially, the revenue is just 2% less than the Rs 2,558 crore in sales reported in the preceding quarter.
Input cost pressures had an effect on the performance, which led to profitability and margin loss.
On November 4, Marico closed flat at Rs 639.2 on the National Stock Exchange. The stock has increased by 5 percent over the last year and by 2.5 percent over the past month.