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News Topical, Digital Desk : FMCG company Marico released its business update for the third quarter (Q3) after the stock market closed on Friday. According to the company, volume growth in India remained in the high single digits. Growth in the international business on a constant currency (CC) basis remained in the early twenties. In a filing to the exchange, the company said consolidated revenue growth is expected to be in the high twenties on an annual basis.

Declining Copra Prices

Meanwhile, there have been signs of relief on the raw material front, with copra (dried coconut) prices having fallen by approximately 30% from their peak levels, and further declines are expected. The softening of copra prices is expected to directly benefit the company's margins. Marico says operating profit growth is expected to remain in double digits, and gross margins are expected to improve in the coming quarters due to falling raw material costs. The company's overall outlook remains positive, and margin recovery is expected to support profitability. 

Share Performance The company's shares closed at ₹758 on Friday, down 0.32%. Over the past year, the company's stock has seen a gain of over 19%. 


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Marico Marico Q3 India Volume Growth international business growth Consolidated Revenue Growth Copra Prices Coconut Prices Gross Margin Improvement operating profit FMCG sector Q3 Financials Input Cost Reduction Double-Digit Profit Growth Consumer Products FMCG Stocks