Marico's Q2 consolidated net profit up 2.5%

Marico's Q2 consolidated net profit up 2.5%

Total income (consolidated) increased to Rs 16,583.10 crore during the reported quarter, from Rs 14,526.69 crore in the same period a year earlier, it said in a regulatory filing.

Country's largest mortgage lender Housing Development Finance Corporation (HDFC) on Monday reported 15 per cent year-on-year (YoY) rise in net profit to Rs 2,101.12 crore for the quarter ended September 30, 2017 against Rs 1,826.50 crore in the corresponding quarter last year.

On standalone basis, though net profit declined a whopping 83 per cent to Rs 25 crore in Q2 from Rs 146 crore in the same period past year, it recovered from a sequential net loss of Rs 102 crore posted last quarter.

"The volume growth is mainly attributable to competitive pricing, continued investments and pipeline refilling in general trade", it added.

During the period, Marico's domestic sales were up 11.55 per cent to Rs 1,200.04 crore as against Rs 1,075.78 crore for the corresponding quarter of 2016-17.

During the quarter ended September 30, the total income from operations of the company was reported at Rs 1,278.49 crore - up 4.85 per cent - from Rs 1,220.91 crore reported during Q2 2016-17.

"Marico's global business grew by one per cent in constant currency terms (volume decline of 3 per cent)".

Meanwhile, in a separate filing Symphony informed that its board on Tuesday declared an interim dividend of Re 1 per equity share having a face value of Rs 2 each.

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