Marico, better known as the manufacturers of Parachute brand oil, reported 23.2% increase in net profits at Rs.388 crore for the Jun-20 quarter. Marico also reported an exceptional gain of Rs 64 crore in the Jun-20 quarter. This gain arises from the stake in ZED. It also offered VRS to employees post closure of its Kanjikode factory near Palghat.

Total revenues fell by 11.1% to Rs.1925 crore on account of the lag effect of the lockdown. While the domestic business was down 14.5%, the international business reported 2.3% fall in revenues. Gross margins improved by 300 bps to 24.3% due to a sharp cut in advertising and promotion expenses in the Jun-20 quarter. All numbers were ahead of estimates.