Marico shares zoom nearly 10% after Q4 earnings; mcap climbs Rs 6,768 crore

Shares of FMCG major Marico Ltd on Tuesday climbed nearly 10 per cent after the company reported a 4.9 per cent rise in consolidated net profit in the fourth quarter ended March 2024.

The stock jumped 9.85 per cent to settle at Rs 583.35 apiece on the BSE. During the day, it soared 10.45 per cent to Rs 586.55.

On the NSE, it zoomed 9.76 per cent to Rs 582.10 per piece.

The company's market capitalisation (mcap) climbed Rs 6,768.16 crore to Rs 75,491.43 crore.

In volume terms, 15.48 lakh shares of the company were traded on the BSE and 350.41 lakh shares on the NSE during the day.

Homegrown FMCG major Marico Ltd on Monday reported a 4.9 per cent rise in consolidated net profit to Rs 320 crore in the March quarter.

The company had posted a consolidated net profit of Rs 305 crore in the same quarter of the previous fiscal.

Consolidated revenue from operations during the quarter under review stood at Rs 2,278 crore as against Rs 2,240 crore in the year-ago period.

Total expenses in the fourth quarter were lower at Rs 1,894 crore compared to Rs 1,907 crore a year ago, the company said.

In Q4 FY24, underlying volume growth was 3 per cent in the domestic business. The company reported constant currency growth of 10 per cent in the international business.