Marico Posts Higher Profit on Lower Copra Costs
Indian consumer goods maker Marico reported a 31 percent jump in second quarter net profit. Lower copra costs and steady demand helped offset a slight miss in revenue estimates.
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MARICO LTD posted a 31% jump in consolidated net profit to 5.50 billion rupees ($57.98 million) on Monday morning, beating analyst expectations. The strong performance in India's consumer goods sector was driven by declining raw material costs and steady consumer demand. Profit surpassed the 5.30 billion rupee average estimate compiled by LSEG.
