Marico: Sales down, profits up by 13%1 min read

In the third quarter of the current fiscal year, Marico Bangladesh faced a nearly 6% decline in sales, amounting to Tk 337.75 crore reportedly. Despite this, the company reported a noteworthy 13% surge in net profit, reaching Tk 110 crore. This unexpected increase can be attributed to a strategic 20% reduction in the cost of raw materials and a substantial rise in finance income. As reported, the finance income experienced an impressive 231% year-on-year increase, totaling Tk 15.87 crore in the three months ending December.

As reported, for the first nine months of the fiscal year, Marico’s total profit grew by 21%, reaching Tk 359.8 crore. During the same period, the company witnessed a 2% year-on-year increase in sales, totaling Tk 1,109 crore. Notably, Marico effectively managed its costs by decreasing the cost of sales by 12%. This prudent financial approach allowed the company to increase its finance income fourfold, reaching Tk 37.75 crore in the first nine months of December 2023.

Reportedly, the earnings per share for the April-December period rose to Tk 114.22, showcasing a significant increase from Tk 94.45 in the corresponding period a year ago. In the stock market, Marico’s shares closed at Tk 2,580.50 on January 25, reflecting a 1.19% decline from the previous day. The company’s financial resilience positions it well for sustained growth and adaptability in the dynamic business landscape.

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