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Marico's Sep quarter update is yet another disappointing tale
Mint Mumbai
|October 06, 2023
Marico’s September quarter business update makes for disappointing reading, coming as it does after a muted June quarter. The company said that its domestic volumes grew in “low single digit" as rural demand recovery remained subdued due to rising food prices and scanty rains. Small wonder, Marico’s shares fell by nearly 5% on Thursday on NSE.

Volumes in Parachute coconut oil and Saffola edible oils—the company’s two workhorse brands— grew in low single digits. In the June quarter, Parachute coconut oil’s volume fell by 2% whereas Saffola edible oils clocked a low double digit growth.
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