At 12:44 hours (IST), shares of Marico were trading at Rs 575.75 on the National Stock Exchange, up 3.2 per cent from the previous close. Earlier, in the day, the stock had shot up by 4.7 per cent.
The company said that as a result of a decline in COVID-19 cases and a pick-up in vaccination, greater mobility had pushed up demand, adding that the revenue growth in the previous quarter was in region of the “low 20’s”.
Marico said that for the period under consideration, it had seen healthy consumer sentiment across categories in domestic business.
The company expects its foods business to register a smart growth, staying on track to generate revenues of Rs 500 crore in the current year.
On the global business front, Marico said it witnessed constant currency growth in double digits in July-September in all its targeted markets with the exception of Vietnam, where curbs on activity to contain the spread of COVID-19 are still quite stringent.
