Panaji
Leading consumer goods company, Marico, sold its Goa plant property, which helped it in recording a 25.8% growth in net profit in quarter ending March 2016. Marico’s plant in Ponda was non-operational since October 2013.
The company had set up the plant in 1997 for manufacturing and packaging of Parachute brand coconut oil. During the quarter ending March 2016, Marico sold its plant property in Ponda, which fetched it Rs 7.5 crores post-tax gain.
Meanwhile, Marico’s total income grew by 7.2% in March 2016 quarter, which was due to 10.5% volume growth. The company’s volume growth was at par with growth it posted in corresponding quarter last year.
Apart from coconut oil, the company is also present in vegetable oil segment through Saffola brand, starch segment through Revive brand among several other consumer goods categories.
The company has a significant international presence too as it sells these products in countries like Vietnam, Bangladesh, Egypt, South-Africa and Malaysia. Bangladesh accounts for a whopping 45% of its international business.
Meanwhile, it is also reported that Marico is expanding in other markets like Pakistan, Sri Lanka, Myanmar, Cambodia and in North and East Africa too.
