MUMBAI: FMCG major Marico has increased its spend on advertisement and sales promotion by 9.1 per cent for the first quarter ended June as it has launched new products.

The spend for the first three months of the fiscal stands at Rs 1.02 billion, up from Rs 937.89 million a year ago. For the full-fiscal ended March 2011, Marico had invested Rs 2.30 billion towards advertising and sales promotion. 
 
Marico introduced Saffola Arise, low glycemic index rice last year and entered the breakfast cereals market with the introduction of Saffola oats. In March 2011, the company introduced two new varieties, a long grain and a Basmati, to cater to regional preferences.

Marico has posted a consolidated net profit of Rs 850.02 million for the quarter ended 30 June 2011 as compared to Rs 737.35 million for the same quarter last year, reporting a growth of 15.28 per cent.

On a standalone basis, Marico‘s net profit rose 20.7 per cent to Rs 816.1 million during the current quarter under review, up from Rs 675.6 million a year ago.