Marico Bangladesh profit surges 29pc in Apr-Jun

Business Desk :
Marico Bangladesh has reported a 29% growth in profit during the April-June quarter of 2023, despite facing challenges such as high inflation, shortages in fuel and electricity supply, and a dollar crisis.
According to its unaudited financial statement approved in its board meeting on Wednesday, the first-moving consumer goods (FMCG) sector company achieved growth by reducing marketing and selling costs.

During the quarter, its net profit was Tk133 crore, which was Tk103 crore at the same time a year ago.
Its earnings per share stood at Tk42.18 at the end of June.
Earlier, it paid a 750% cash dividend as an interim payment to its shareholders.

However, Marico’s shares were stuck at the floor price of Tk2,421.50 each at the Dhaka Stock Exchange.
Marico started its business in Bangladesh in 1999 with its flagship brand – Parachute Coconut Oil.
Since then, it has transformed itself from a single brand to more than 20 brands in personal care and food categories.