Marico Operations Resume At Normal Scale In Bangladesh
The medium-term prospects of Marico's business remain intact in Bangladesh, it says.
The manufacturing operations of Marico Ltd. resumed at its normal scale in Bangladesh on Aug. 13. Since the operating conditions in the markets are improving, a large majority of the company's retail sales force and distributors have been functional since last week, according to an exchange filing on Monday.
The FMCG major has prioritised the safety of their employees, factory workers, distributors of their business. The medium-term prospects of Marico's business remain intact in Bangladesh, it said.
Earlier, the company said its operations were resuming gradually in the crisis-driven nation and it was watchful of the evolving situation.
Prime Minister Sheikh Hasina had resigned and left Bangladesh after widespread protests against her administration. The violence in Dhaka led to numerous deaths, which dragged the nation into turmoil.
The net profit of the maker of Parachute hair oil rose 8.7% year-on-year to Rs 474 crore in the quarter-ended June, in line with analysts' estimates.
Shares of Marico closed 1.29% lower at Rs 644.70 per share on the BSE, compared to a 0.07% decline in the benchmark BSE Sensex.
