At the operating level, EBITDA increased 12.5% to ₹513 crore in the third quarter of this fiscal over ₹456 crore in the year-ago quarter. Shares of Marico Ltd ended at ₹516.55, down by ₹8.60, or 1.64%, on the BSE.
Marico: Emkay Global said lower growth in the September quarter was largely due to the weak show in domestic edible oil. Marico saw a low single-digit volume growth against Emkay’s estimate of a high single-digit growth.
ICICI Securities revised the target price to Rs 670 from Rs 610, an upside of 19 percent. Expected volume growth in Parachute Coconut Oil and higher revenue from the food segment were among the factors cited for the upgrade