The company has yet to issue an official statement on this matter. Following this news, the company’s shares were trading at ₹718.15 per share on Wednesday, representing a decline of 0.78%.
Marico Ltd: The Income Tax Department on Wednesday surveyed consumer goods company Marico Ltd. as part of its ongoing nationwide crackdown. Marico Ltd. owns well-known brands such as Parachute, Saffola, and Livon. The company has yet to issue an official statement on the matter. Following this news, the company’s shares were trading at ₹718.15 per share on Wednesday, a decline of 0.78%.
What is a survey by the Income Tax Department?
A survey conducted under Section 133A of the Income Tax Act is different from a search operation. While its scope may be narrow, its powers are broad enough to detect income tax evasion or concealed income. According to the Bombay Chartered Accountants Society (BCAS), income tax officials must meet only a few limited conditions before exercising this power. A survey is an action by the Income Tax Department in which they examine the records and transactions of a company or individual to determine whether the correct tax has been paid.
June Quarter Results
Marico Limited, a leading FMCG company, reported an 8.23 percent increase in consolidated net profit to ₹513 crore in the first quarter of the current financial year. The company achieved this profit due to increased sales in the Indian market and strong performance in international markets. In a filing to the stock exchanges on Monday, Marico Limited said the company had earned a consolidated net profit of ₹474 crore in the same period last year. Operating income during the quarter under review was ₹3,259 crore, compared to ₹2,643 crore in the same quarter of the previous fiscal year. The company said its total expenses increased to ₹2,659 crore in the first quarter of FY2025-26, from ₹2,075 crore in the same quarter of the previous fiscal year.
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