Marico disappoints and tanks
By
Research Desk
about 11 years ago
Marico is amongst the top losers on the BSE currently, down almost 3% at Rs.219.45, around its intar day low point at Rs.218.25.
The stock is in the red following its set of not-so-good numbers for Q4FY13. The company posted a 20% YoY rise in consolidated net profit at Rs.84 crore despite total income rising by a muted 8% at Rs.999 crore. The surge in profit was mainly thanks to the exceptional income of Rs.33 crore. Operating profit margin also declined from 12.3% to 11.9% (YoY), coming in much lower than estimates.