Q3FY21: Marico’s revenue grows by 16% YoY to Rs 2,122 crore
Advertising and sales promotion expense jumped to Rs 193 crore in Q3 FY21 from Rs 185 crore in Q3 FY20
Marico Limited has declared its Q3FY21 results. The revenue from operations grew by 16% YoY to Rs 2,122 crore (USD 287 million) on the back of a strong domestic volume growth of 15% and a constant currency growth of 8% in the international business. Amidst steadily improving consumer confidence and the receding impact of the pandemic, the India business of the company witnessed robust demand trends across more than 95% of its portfolio.
EBITDA and PAT grew by 11% and 13%, respectively, on a year-on-year basis.
Advertising and sales promotion expense jumped to Rs 193 crore in Q3 FY21 from Rs 185 crore in Q3 FY20. In the trailing quarter, advertising and sales promotion expenses stood at Rs 189 crore.
The company said it shall continue to invest behind brand building to support market growth initiatives in core categories and expansion into adjacent categories as advertising spends are expected to reach pre-COVID levels. Spends on the digital platforms will continue to rise.
Commenting on the results, Saugata Gupta, MD & CEO, said, “The Company had a stellar quarter with a very healthy growth in both the India and International businesses. With the core franchises exhibiting strength and new bets in Foods also trending well, we expect the domestic business to deliver much ahead of medium term aspirations over the next few quarters. The International business is also poised to maintain steady growth over the next few quarters. Despite a challenging input cost backdrop, the Company pulled in a resilient margin performance on the back of focused spends and aggressive cost control. Over the medium term, the Company aims to grow the core and build sizeable new franchises through premiumisation, foods and digital brands.”
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