Copra prices and therefore loose coconut oil prices have been rising since December, but Marico Ltd hiked prices only in March. While volume sales grew by 15%, Parachute’s value sales grew by 11% as average realizations were lower. Marico’s consolidated sales rose by 2.4% over a year ago in the March quarter, lower due to the international business. At the consolidated level, it is guiding for 8-10% volume growth and 12-15% value growth. The current quarter’s net profit growth will certainly cheer investors as it is much higher than the Street’s estimate of about 10-12%.

Source: Mint May 03, 2017 02:26 UTC