There is a perceptible shift with consumers adopting a more precautionary savings approach with resources being set aside for medical needs.
After the first wave, rural markets had recovered quickly and reported almost double growth compared to the urban markets.
The commodities which are particularly exacerbating domestic inflation include palm oil, a key ingredient for home and personal care items including soaps.
The rural market continued to perform with strong growth of 14.6 per cent during the period and the metro markets have registered a positive growth after two quarters.
The company recorded a net profit of Rs 365.84 crore compared to Rs 229.90 crore in the corresponding quarter of the previous year.
During the quarter under review, the company’s revenue from operations stood at ₹3,610.82 crore, up 8.6 per cent.
Marico said in Q3FY21, revenue from operations grew on the back of a strong domestic volume growth of 15 per cent and a constant currency growth of 8 per cent in the international business.
Some FMCG companies like Marico and others have already gone for price hike, while some which include Dabur, Parle and Patanjali are closely monitoring the situation.
The company said it has observed strong performance across its portfolio with general trade continuing to grow firmly and rural markets staying ahead of urban.
Industry watchers also expect complete normalisation of demand for the fourth quarter of FY21 for most categories.
The sector is learning, innovating and rising from disruptions to put the worst behind and looking forward to the new year with optimism and a new-found confidence.
But, then Nielsen downgraded its growth forecast in April to 5-6 per cent following the Covid-19 outbreak.
Unilever to introduce mouthwash formulation in India, claims to reduce 99.9 per cent corona after rinsing
Unilever has confirmed that preliminary lab test results show that mouthwash formulation containing CPC Technology reduces 99.9 per cent of SARS-CoV-2, the virus that causes COVID-19.
The land parcel is in the heart of Thane and offers good potential for venturing into the real estate sector.
The market rally was driven by strong activity on the metal, oil and gas, PSU, infrastructure, banking, FMCG and capital goods counters, rising up to 0.88 per cent.