Marico Q2 net profit up 17% to Rs 353 crore as revenue slips 1%
Marico's Q2 FY24 net profit rose 17% to Rs 353 crore even as revenue dipped 1% to Rs 2,476 crore. India business fell 3% on price cuts, but Foods and Digital-First portfolios scaled up amid slow rural recovery. Volume growth held at 3%, with 85% of the business gaining or sustaining share.
What happened
Marico's Q2 FY24 net profit rose 17% to Rs 353 crore though revenue slipped 1% to Rs 2,476 crore. India business fell 3% on price cuts; Foods and Digital-First
Key facts
- net profit Rs 353 crore
- up 17%
- revenue Rs 2,476 crore
- down 1%
- volume growth 3%
- India turnover Rs 1,832 crore
- down 3% YoY
- 85% business gaining/sustaining share
Why this matters
The rapid scaling of Foods and Digital-First portfolios points to appetite for bolt-on acquisitions in premium and D2C niches to accelerate diversification beyond the maturing core categories.
What to watch
- Copra and vegetable oil input-cost trajectory
- Rural demand indicators and monsoon/agri income signals
- Sequential volume growth vs the 3% print
- Foods + Digital-First revenue contribution and profitability path
- Competitive pricing response from HUL, Dabur, Emami
- Push new-age Foods and Digital-First brands (Beardo, Plix, True Elements) with higher ad spend to offset core softness
- Reinvest input-cost gains into pricing and trade schemes to defend the 85% share-gain footprint
- Guide investors toward volume-growth acceleration in H2 as pricing base normalizes
- Expand rural distribution reach to capture eventual demand rebound