Marico Q2 net profit up 29 pc at Rs 558 cr, revenue rises to Rs 3,897 cr New Delhi, Nov 2 (PTI) Homegrown FMCG firm Marico Ltd on Monday reported a 29.16 per cent rise in consolidated net profit to Rs 558 crore in the September quarter of FY27, led by strong volume growth in the domestic market.

 The company had posted a consolidated net profit of Rs 432 crore in the corresponding quarter of the previous fiscal, Marico said in a regulatory filing.

 Its revenue from operations increased 12.95 per cent to Rs 3,897 crore in the second quarter of FY27, compared to Rs 3,450 crore in the corresponding period a year ago.

 The growth was driven by volume growth in the domestic market.

“India business delivered 10 per cent underlying volume growth, marking another quarter of robust volume growth. The International business sustained healthy momentum, recording 13 per cent constant currency growth (CCG),” said Marico in its earnings statement.

 Total expenses stood at Rs 3,276 crore in the September quarter of FY27, up 11 per cent year-on-year.

Marico, which owns brands such as Saffola, Parachute and Livon, among others, said its India business delivered a revenue growth of 9.83 per cent to Rs 2,916 crore in Q2 FY27.

 “Business fundamentals remained healthy, supported by strong offtakes and broad-based gains in market share and penetration,” Marico said, adding that over 95 per cent of the business gained or sustained market share and penetration on a MAT basis.

 Over the channels, Marico said, traditional and organised trade grew in double digits, alongside accelerated growth in Quick Commerce.

 “Gross margin expanded ~600 bps YoY, supported by moderation in the copra prices and a favourable portfolio mix,” said Marico, adding this also helped in expansion in gross margin by “200 bps to 18.2 per cent, while Ebitda grew 27 per cent, its strongest growth in 50 quarters.” Moreover, net profit of the India business grew 31 per cent, “marking the highest growth in the last 51 quarters”.

 Its revenue from the international market was up 23.39 per cent at Rs 981 crore in the September quarter.

“Bangladesh delivered 5 per cent on a CCG (constant currency growth) basis, marking a marginal sequential improvement despite consumer demand softness amidst persistent high inflation and lapping a high base. We expect growth to gradually improve in the subsequent quarters,” it said.

Vietnam continued its strong growth momentum and delivered 22 per cent CCG, with healthy growth across the portfolio and acceleration in e-commerce.

 Its MENA (Middle East and North Africa) business delivered 15 per cent CCG, supported by resilient performance in the Gulf region on the back of focused execution. South Africa and NCD & Exports business registered strong performance with 15 per cent and 17 per cent, respectively.

 Total consolidated income of Marico increased 12.88 per cent to Rs 3,950 crore in the quarter.

In the first half (H1) of FY27, Marico’s total consolidated income was at Rs 7,955 crore, up 17.4 per cent YoY.

 Commenting on the results, the company’s MD and CEO Saugata Gupta said, “The strength of our first-half performance underscores Marico’s evolution into a more resilient and diversified business, with several growth engines and a proven ability to deliver strong growth across commodity cycles. Robust momentum across the portfolio and several businesses reaching new highs, alongside multi-quarter high operating profit growth reflect the strength of our franchise and execution.” During the quarter, the company’s Parachute Rigids sustained strong momentum, with volume growth accelerating to 13 per cent, marking “the highest growth in the last 22 quarters”, though revenue growth remained nearly flat, due to the impact of price reductions undertaken at the beginning of the year to pass on the benefit of easing copra prices.

 Its Value-Added Hair Oils segment, which has brands such as “Parachute Advansed, Nihar Naturals, and Hair & Care” delivered the sixth consecutive quarter of stellar growth, registering 21 per cent value growth and gaining 80 bps in value market share on a MAT basis, the company said.

The FMCG major’s foods portfolio grew 45 per cent, crossing an annualised revenue run rate of Rs 1,500 crore. Similarly, the Premium Personal Care segment also delivered strong growth. Its Digital-First Portfolio also delivered strong growth, supported by Beardo and Plix brands.

 “The portfolio, comprising Premium Hair Nourishment, Hair Cleansing, Male Grooming and Skin Care, crossed an annualised revenue run rate of Rs 500 crore and the Digital-first portfolio reported an annualised run rate of Rs 1,150 crore,” it said.

Over the outlook, the company reaffirmed to achieve double-digit revenue growth and surpass the Rs 15,000 crore mark, while delivering mid-twenties Ebitda growth in FY27.

 “India business is poised to deliver double-digit volume growth and International business should see accelerating constant currency growth in the second half of FY27,” it said.

Shares of Marico on Monday settled 0.36 per cent lower at Rs 797.90 apiece on the BSE.