Marico flags margin pressure despite quarterly profit beat
Marico reported a profit beat but saw margins shrink to 15.6% due to high crude prices. The firm warned of price hikes to manage ongoing input cost pressures.
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MARICO LTD shares fell 2.7% after the firm warned of shrinking margins despite a 14% rise in quarterly profit to 3.91 billion rupees. Revenue in India rose 22% to 33.33 billion rupees, slightly exceeding analyst estimates of 33.13 billion rupees. Rising input costs from crude oil prices are forcing consumer goods leaders to consider price hikes to protect profitability.
