Marico shares gains 5% as Q4 earnings meet estimates


Published On: Tuesday, May 5, 2020 | By:

Marico shares gains 5%  as Q4 earnings meet estimates

Marico share price gained 6 per cent to Rs 301.65 on May 5 despite the company has posted a weak set of numbers for the quarter ended in March. The company, on May 4, reported a drastic 50.6 per cent year-on-year (Y0Y) fall in consolidated profit to Rs 199 crore versus profit of Rs 403 crore because of the tax credit in the year-ago period and Rs 10 crore of exceptional items in Q4FY20. Domestic revenue in Q4 declined 7.6 per cent to Rs 1,146 crore and the international business grew by 5.1 per cent to Rs 350 crore YoY. Earnings before interest, tax, depreciation and amortisation (EBITDA) declined 4.1 per cent year-on-year to Rs 282 crore in the quarter ended March 2020. Brokerage firm Jefferies revised earnings per share (EPS) for Marico higher post the results, factoring in higher-margin for FY21. Around 48.1 lakh shares have changed hands on the NSE and BSE so far. In 2020 so far, Marico has fallen 9.83 per cent as compared to Sensex's 23.21 per cent plunge.

Tags: Marico

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