July-September consolidated revenue growth in high single-digits: Marico

FMCG steadfast Marico Ltd connected Wednesday said its consolidated gross maturation successful the July-September 4th remained successful precocious single-digits, arsenic higher realisations successful the home concern was offset by incremental currency headwinds successful immoderate overseas markets during the 2nd 4th of the ongoing fiscal.

In its update for the 2nd 4th filed connected bourses, Marico said the assemblage witnessed unchangeable request trends with agrarian outperforming municipality connected a year-on-year ground for the 3rd 4th successful a row.

"Consolidated gross maturation remained successful precocious single-digits, arsenic higher realisations successful the home concern was offset by incremental currency headwinds successful immoderate overseas markets. We expect consolidated gross maturation to determination into double-digits successful the 2nd fractional of the year," the institution said.

Marico said it expects to "deliver double-digit gross maturation successful this year".

"In presumption of the higher-than anticipated grade of ostentation successful copra prices, crisp import work hike successful rootlike oils and imaginable uncertainty successful crude lipid prices successful the aftermath of caller geo-political tensions, the institution volition absorption connected its stated gross maturation aspiration portion remaining watchful connected the borderline beforehand during the 2nd fractional of the year," it added.

In the 2nd quarter, the home concern posted mid-single digit measurement growth, exhibiting betterment connected a sequential basis, it added.

The company's 'Parachute' coconut lipid posted adjacent to mid-single digit measurement growth, partially impacted by 'ml-age' (volume) simplification successful 1 of the cardinal price-point packs successful lieu of a terms increase, it said.

"The marque recorded double-digit gross growth, aided by pricing interventions made astatine the commencement of the year," it said, adding Parachute coconut lipid took different circular of terms summation astatine the extremity of the 4th fixed the sequential emergence successful copra prices.

Saffola oils posted debased azygous digit gross growth, portion the pricing rhythm for the marque turned somewhat favourable aft 8 quarters, Marico said, adding value-added hairsbreadth oils were subdued amidst competitory headwinds successful the bottommost of the pyramid segment.
"We expect gradually improving request trends up connected the backmost of disposable ATL (above the line) investments and marque activations crossed cardinal franchises," it added.

Foods and digital-first brands sustained their visibly beardown momentum and scaled up good up of aspirations, thereby maintaining the gait of diversification arsenic envisaged, the institution said.

The planetary concern delivered robust low-teen changeless currency maturation successful the 2nd 4th with each of the markets contributing positively.

"Bangladesh posted high-single digit growth, demonstrating the beardown resilience of our concern exemplary amidst a challenging operating situation which has present mostly stabilised," Marico said.

The institution further added that Vietnam besides grew successful precocious azygous digits, portion Middle East and North Africa (MENA) and South Africa maintained their robust double-digit maturation trajectory.