Recent

Thursday, July 8, 2021

Wipro Consumer says that rural market slowed down in Q1 rapidly

 

Wipro Consumer says rural market slowed down sharply in Q1
BENGALURU: Wipro Consumer Care & Lighting stated the pandemic has slowed increase of FMCG merchandise in the rural areas of the country.

The company, recognised for Yardley cleaning soap and Santoor physique lotion, stated the topline for its home commercial enterprise grew in high-single digits in contrast to greater than 10% in the identical length remaining year.

"This time the rural market bought impacted significantly, greater than closing time," stated CEO Vineet Agrawal.

Last year, after the first wave, the rural market recovered quicker and said nearly double the increase of the city market due to the fact the pandemic had no longer hit these areas as much. This time it used to be different.
"This year, quarter one, backyard of India, Malaysia has carried out nicely and grew 20%, however it’s on a decrease base. Vietnam has grown 7%, Middle East 8% and South Africa at about 30% plus,” Agrawal said.

Last fiscal, Wipro Consumer suggested income of Rs 8,400 crore, up 17% from Rs 7,700 crore in the yr before, and running margin of 12.7%.

Sales of talcum powder and deodorants improved 70-75% year-on-year in the three months ended June.

Post Top Ad