Marico Bangladesh posted 11 per cent growth in sales in the April-June quarter despite the second wave of coronavirus infections on the back of hair oils and baby care portfolios.

The local subsidiary of the Indian fast-moving consumer goods company saw its revenue grow to Tk 334.4 crore in the first quarter of 2021, up from Tk 301.1 crore year-on-year, according to the company. 

During the same period, Marico's profits rose 8.4 per cent to Tk 108 crore. The board of directors yesterday recommended a 200 per cent interim cash dividend for shareholders for the three-month period.

"The revenue growth was driven by the higher sales in the hair oils and baby care portfolios," said Christabel Randolph, company secretary of Marico Bangladesh.

During the quarter, the company launched three new products -- Red King Cooling Oil, Nihar Naturals Lovely, and Parachute Naturale Hijab Fresh shampoo.

With Bangladesh battling a severe second wave of the pandemic, Marico is prioritising the health, safety and security of its members and operations, said Randolph.

While supply chain disruptions are expected due to the lockdown, the company, with the aid and permission of the authorities, will continue production and supply of its Mediker SafeLife hygiene range of products, comprising hand-wash, hand sanitizer, germ-protection soap, veggie wash, Saffola Active edible oil and Saffola honey to ensure consumers have access to essential hygiene products and immunity aids, she added.

Shares of Marico closed 0.92 per cent higher at Tk 2,391 on the Dhaka Stock Exchange yesterday.

The company's dividend payout has been rising over the years.

Last year, it gave away 950 per cent in cash dividends. It was 650 per cent, 600 per cent, 500 per cent, 450 per cent and 425 per cent in the preceding five years, data from the DSE showed.