Marico Q3 Business Update: Revenue declines in low single digits, domestic volumes see improvement

Marico's consolidated revenue declined in low single digit in the quarter ended December, as compared to the year-ago period, pressured by significant currency depreciation in select overseas geographies and as degree of pricing corrections in key domestic portfolios are yet to anniversarise.

The company observed healthy trends in offtakes. The company said that Foods and Premium Personal Care (including Digital-First) scaled up well in line with aspirations.

The international business delivered mid-single-digit constant currency growth amid transient maco headwinds in the Bangladesh market.

Marico expects a robust gross margin expansion on a year-on-year basis. "A&P spends were ramped up in line with our strategic intent to continually strengthen the long-term equity of both the core and new franchises. Consequently, we expect low double-digit operating profit growth on the back of a healthy expansion in operating margin, thereby staying on track to deliver on the margin guidance for the full year," the company said.

Marico maintained its aspiration of delivering sustainable and profitable volume-led growth over the medium term.