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.
© Thomson Reuters 2009 All rights reserved
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