MARICO SHARE PRICE ZOOMS NEARLY 10 PC AFTER Q4 EARNINGS; BUY, SELL OR HOLD? ANALYSTS RECOMMEND

Shares of FMCG major Marico Ltd on Tuesday climbed nearly 10 per cent after the company reported a 4.9 per cent rise in consolidated net profit in the fourth quarter ended March 2024. The stock jumped 9.73 per cent to Rs 582.75 on the BSE. At the NSE, it zoomed 9.83 per cent to Rs 582.45 apiece.

Marico Share Price Target 2024

The analysts at the broking firm Investec upgraded the ratings from Hold to Buy, raising the share price target to Rs 616 from Rs 572.

Homegrown FMCG major Marico Ltd on Monday reported a 4.9 per cent rise in consolidated net profit to Rs 320 crore in the March quarter. The company had posted a consolidated net profit of Rs 305 crore in the same quarter of the previous fiscal.

Consolidated revenue from operations during the quarter under review stood at Rs 2,278 crore, as against Rs 2,240 crore in the year-ago period. Total expenses in the fourth quarter were lower at Rs 1,894 crore, compared to Rs 1,907 crore a year ago, the company said.

In Q4 FY24, underlying volume growth was 3 per cent in the domestic business. The company reported constant currency growth of 10 per cent in the international business.

(PTI Inputs)

2024-05-07T12:02:02Z dg43tfdfdgfd