Live Events
as a Reliable and Trusted News Source Addas a Reliable and Trusted News Source Add Now!
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
Mumbai: Marico said it had a strong March quarter, with consolidated revenue growing in the low twenties year on year, driven by high volume growth and steady performance across key segments.The maker of Saffola and Parachute , in its quarterly update , said demand trends remained stable, with signs of gradual improvement expected in the coming quarters. However, it warned of the ongoing geopolitical tensions in the Middle East as a key risk, after its Gulf business saw some impact in March.In India, volumes grew in high single digits. Parachute coconut oil posted low single-digit volume growth, adjusting for pack size changes, as the company passed on benefits of lower copra prices to consumers. Saffola Oils saw high single-digit growth, driven by better volumes.The value-added hair oils segment delivered strong growth in the twenties, continuing its recovery. The foods business also performed well, with high-teens growth. International business remained a key driver, with high-teen growth in constant currency, although the Gulf region lagged due to external challenges.On costs, copra prices have fallen about 35% from peak levels, which should help margins but vegetable oil and crude-linked inputs are rising.