Marico’s Q2 PAT up 9.7% at Rs 86 cr, stock falls

MUMBAI: Shares of FMCG major Marico came under sharp selling pressure after its consolidated net profit for the quarter ended September grew 9.7 per cent to Rs 85.8 crore from Rs 78.2 crore in the same period a year ago. The botttomline is below street expectation and ET Now poll estimate of Rs 108 crore.

The sales for the quarer were at Rs 1,156 crore, up 19.5 per cent, against Rs 967 crore in the corresponding quarter last fiscal. The ET Now poll expected the company to report sales of Rs 1,161 crore.

The stock was at Rs 202.65, down 5.22 per cent, on the BSE. It touched a high of Rs 217.30 and a low of Rs 201.10 in trade today.