Marico shares decline after Q3FY22 quarterly update says slowing consumption patterns affected the sector

Shares of consumer goods and personal produces company, Marico, declined 3 per cent to Rs 498.20 per share on the BSE on Tuesday after the company said slowing consumption patterns affected the sector as whole. Marico made disclosed this information in quarterly update for Q3FY22, which seeks to provide an overall summary of the operating performance and demand trends witnessed in the quarter ended December 30, 2021. 

"A detailed Information Update will follow this once the Board approves the financial results for Q3 FY22," it said.  

At 11 am, shares of Marico Limited was trading lower by Rs 14.65 or 2.85% to 499.40 after touching day's low of Rs 498.20 per share on the BSEon Tuesday.  

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Marico quarterly update highlighted it was primarily due continuing inflation, which impacted overall disposable incomes as well as rising mobility unleashing some degree of pent-up demand for discretionary goods, services and out-ofhome consumption. 

"In the India business, we witnessed similar trends across our categories. Rural demand was also 

sluggish, albeit optical to an extent, given the high base. Revenue growth in the quarter was in double 

digits, while volumes were flat, owing to the weaker consumption sentiment and a strong base," said the company ahead of announcement of Marico Q3FY22 result.  

Headquartered in Mumbai, Marico Limited is one of India’s leading consumer goods companies operating in the health, beauty and wellness space. Marico claims to be present in over 25 countries across emerging markets of Asia and Africa. It nurtures leading brands across categories of hair care, skin care, edible oils, healthy foods, hygiene, male grooming, and fabric care.