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Marico fiscal Q1 profit climbs 22.8% YOY

Marico Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 1.21 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 1.29 rupees per share.

EPS increased 22.5% year over year from 99 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.57 billion rupees, an increase of 22.8% from 1.27 billion rupees in the year-earlier period.

The normalized profit margin rose to 9.7% from 9.2% in the year-earlier period.

Total revenue climbed 17.4% year over year to 16.19 billion rupees from 13.80 billion rupees, and total operating expenses grew 17.3% from the prior-year period to 13.73 billion rupees from 11.71 billion rupees.

Reported net income rose 17.5% year over year to 1.85 billion rupees, or 1.44 rupees per share, from 1.58 billion rupees, or 1.23 rupees per share.

As of Aug. 4, US$1 was equivalent to 61.01 Indian rupees.