Brands
Marico Q4: Net profit surges 14.1% driven by volume growth
NEW DELHI: Consumer goods major Marico has reported a 14.1 per cent year-on-year growth in consolidated profit at Rs 227 crore for the quarter ended 31 March 2021, driven by volume-led strong revenue growth.
Revenue from operations shot up 34.5 per cent to Rs 2,012 crore compared to the year-ago quarter, backed by robust volume growth of 25 per cent in the domestic business and constant currency growth of 23 percent in the international business, the Saffola oil maker said in its BSE filing.
The foods portfolio grew 134 per cent in value terms in the quarter and crossed Rs 300 crore in turnover in FY21. “The base oats franchise grew by 84 per cent in value terms, backed by increased penetration and market share gains,” noted the FMCG player.
Parachute Rigids grew 29 percent in volumes, albeit on a low base, undeterred by price hikes and pullback of consumer offers to counter a part of the input cost push.
“Value-added hair oils grew 22 per cent in volumes with all of the key brands clocking double-digit growth. Saffola edible oils extended stellar run with 17 per cent volume growth despite a particularly strong base, on the back of investment in new markets and increasing household penetration,” the company added.
At the operating level, EBITDA (earnings before interest, tax, depreciation and amortisation) grew by 13.1 percent year-on-year to Rs 319 crore but margin contracted 300 bps year-on-year to 15.9 per cent in Q4.
Advertising and sales promotion grew by 35 per cent as the company invested aggressively mainly in core franchises and food innovations while continuing to drive spending rationalisation and channelising investment towards growing franchises.
In the international business, “Bangladesh clocked 20 per cent constant currency growth. South East Asia also reverted to positive territory with 13 per cent constant currency growth. MENA and South Africa also gained on a low base,” said Marico.
Brands
FSS names Anand Krishnamurthi head of global digital delivery
Tech veteran to drive AI-first, cloud-led transformation in payments globally
CHENNAI: Financial Software and Systems (FSS), an AI-first payment infrastructure company, has appointed Anand Krishnamurthi as head of global digital delivery.
In his new role, Anand Krishnamurthi will lead FSS’s global digital delivery capabilities, focusing on AI-first and cloud-led transformation while ensuring predictable, high-quality outcomes for customers worldwide. He will be based in Chennai and report to V. Balasubramanian, CEO of FSS.
Bringing 28 years of experience in technology and digital transformation across banking, capital markets, financial services, and insurance, Anand has held senior leadership positions at Cognizant and NuSummit. He is recognised for scaling multi-geography delivery teams, leading mission-critical platforms, and embedding AI-driven automation in complex, regulated environments.
“What drew me to FSS is its deep payments expertise, strong product DNA, and the scale at which its platforms power real-world financial ecosystems,” said Anand Krishnamurthi. “I aim to strengthen delivery predictability, execution rigor, and engineering quality, building empowered teams that deliver measurable customer outcomes. FSS has a unique opportunity to create real-time, AI-infused payments infrastructure that is resilient, secure, and globally scalable.”
V. Balasubramanian added, “Anand’s track record in leading multi-geography delivery programs and AI-first operating models makes him the ideal leader for FSS as we accelerate our AI-driven digital payments business. His leadership will help us raise the bar for outcomes globally.”
This appointment is part of FSS’s broader push to build an AI-powered, cloud-native delivery organisation capable of meeting the evolving needs of banks, fintechs, and financial institutions worldwide.
