Multinational company Marico Bangladesh registered a 27 per cent year-on-year growth in profit in the third quarter through December last year, driven by increased revenue and finance income.
The company’s income grew almost at the same pace in the nine months through December last year, compared to the same period the year before.
“The company’s top line growth — revenue growth — was significantly high, compared to many local companies,” said Md. Moniruzzaman, managing director of Prime Bank Securities.
Marico witnessed a 20 per cent year-in-year growth in revenue to Tk 4.04 billion in Q3. The growth is significant for a listed company against the backdrop of the sluggish economy; many local companies are struggling to survive.
Meanwhile, Marico declared 440 per cent interim cash dividends, based on the audited financial statements for the nine-month period ended in December last year. Shareholders will get Tk 44 per share against the face value of Tk 10 per share.
Marico saw its finance income jump 23 per cent year-on-year during the third quarter through December, supporting its bottom line growth.
Moniruzzaman said the company’s cash funds might have been injected into fixed-income securities, such as Treasury bonds that ensured good returns during the quarter.
Marico’s other income was also up 39 per cent year-on-year in Q3 to December last year.
EPS (earnings per share) rose to Tk 44.34 in Oct-Dec, increased from Tk 34.93 in the same period of the previous year.
Marico reported a 27.51 per cent growth in profit year-on-year to Tk 4.58 billion in the nine months to December last year.
During the period, revenue grew 12 per cent, while finance income and other income experienced a growth of 66 per cent and 7.59 per cent respectively.
A decline has been observed in the operating cash flow reported for the nine months to December 2024, which was due to higher payment to suppliers compared to the previous year.
Marico reported NOCFPS (net operating cash flow per share) of Tk 88.35 for April-December, 2024, down from Tk 143.15 reported for the same period a year earlier.
It reported NAVPS (net asset value per share) of Tk 241.29 as of December last year whereas the value was Tk 228.07 at the end of 2023.
Marico has persistently been on a growth trajectory even after the outbreak of Covid 19 in 2020. It reported a profit of Tk 2.64 billion in 2020. It grew exponentially for five years to gain a profit of Tk 4.60 billion in 2024. today.thefinancialexpress.com.
