Marico, the maker of Saffola and Parachute hair oil, has reported a volume growth of only 4% in the quarter ended September, lower than peers such as Dabur, HUL and Emami.
As a result, total income fell 3.5% year on year to Rs1,118.4 crore. But on the other hand, consolidated net profit rose 23.3% yoy to Rs105.9 crore, mainly on fall in advertising costs by 14.7%.
Analysts said the exclusion of the low-margin Kaya business, too, boosted operating profit margins.
“Softening in the sector due to a general consumer price inflationary trend and restricted spends on discretionary products impacted growth rates.” the company said.