Marico Q2 results: profit rises 31% to Rs 550 crore on higher revenue

Marico Ltd’s consolidated profit attributable to owners rose 31% to Rs 550 crore in the quarter ended September 30, 2026 (Q2 FY27), from Rs 420 crore a year earlier. Revenue from operations grew 13% to Rs 3,897 crore. The Marico Q2 results were approved by the board and filed with the stock exchanges on November 2, 2026.

Marico Q2 results: key numbers

The table uses consolidated figures, which include the company’s subsidiaries.

Measure (Rs crore)	Q2 FY27	Q2 FY26	Change
Revenue from operations	3,897	3,450	13%
Total income	3,950	3,499	13%
Profit before tax	674	550	23%
Net profit attributable to owners	550	420	31%
Advertisement and sales promotion	451	313	44%

Revenue and advertising figures for both years are on a restated basis. From this quarter, Marico nets certain customer-related advertisement and promotional expenses off revenue instead of showing them as advertising spend, and it has restated the year-ago figures the same way. The company says the change does not affect profit before tax, profit after tax or earnings per share.

Profit before tax grew faster than revenue. The earnings presentation says consolidated EBITDA rose 27% and its margin expanded by 200 basis points. EBITDA (earnings before interest, tax, depreciation and amortisation) is an operating measure, not net profit.

Why profit grew faster than revenue

The presentation attributes the gain to gross margin, which rose by about 600 basis points, helped by lower copra prices and a favourable portfolio mix. The company describes that as its highest expansion in 50 quarters. Gross margin is the share of revenue left after the cost of materials and goods bought for resale.

Marico also spent more on advertising and sales promotion, which rose 44% to Rs 451 crore, so the margin gain came even after higher marketing spend. Finance costs rose to Rs 24 crore from Rs 12 crore, a small factor in the quarter.

One-time items

The results statement does not show a separate exceptional-items line for the quarter, so the reported profit is not adjusted for one-off gains or losses.

What the company expects for FY27

The presentation sets out FY27 expectations: double-digit volume growth in India, mid-teens constant-currency growth in the international business, consolidated revenue growth in the teens to more than Rs 15,000 crore, and EBITDA growth in the mid-twenties.

What to watch next

Watch whether India volume growth reaches the double-digit target and whether margin gains hold while advertising spend keeps rising. The next results will show whether the 31% profit growth was a one-quarter effect or a trend. For more coverage, see more results news.