Marico surges over 15% to touch 52-week high in morning trade on good results

Shares of FMCG firm Marico Ltd surged over 15 per cent in morning trade today after the company reported a consolidated net profit of Rs 185.27 crore for the quarter ended June 30. After making a positive opening, shares of Marico further gained 14.75 per cent to Rs 294.45 -- its 52-week high at the BSE.

On the NSE, the stock soared 15.12 per cent to hit a one-year high of Rs 294.50. The scrip was later trading at Rs 270.40, up 5.38 per cent, at 1205 hours on the BSE.

Marico Ltd had yesterday reported a consolidated net profit of Rs 185.27 crore for the quarter ended June 30 on the back of net sales of Rs 1,619.23 crore. In the same period of the previous fiscal, the company had posted a net profit of Rs 157.72 crore and net sales of Rs 1,379.66 crore, it had said in a BSE filing. Marico said results are not comparable with corresponding quarter last year as its skincare business 'Kaya' was demerged in October 2013. Overall expenses during the quarter stood at Rs 1,376.85 crore as against Rs 1,173.28 crore in the same quarter last year.