Marico July-Sept net seen up 47.5 pct

MUMBAI (Reuters) - Consumer goods firm Marico Ltd is expected to report a 47.5 percent rise in net profit for the quarter to September on high growth in its oils segment and acquisition gains, said analysts.

According to a Reuters poll of brokerages, the company is seen to report a net profit of 394 million rupees while net sales are seen up 33.5 percent at 4.56 billion rupees.

"We expect Parachute, hair oils and Saffola to maintain double-digit growth. Growth will get a boost from acquisition of hair care companies in Egypt in FY07," said a report by Motilal Oswal.

The high-margin hair care business in Egypt will cushion margin decline due to high copra prices, it added.

Copra prices have strengthened in the last two months but Marico has taken a price hike of 3 percent in Parachute, which will offset the increase in its raw material cost and help it to safeguard its margin, a recent Sharekhan report said.

Marico will report its results on October 24.