BENGALURU: Wipro Consumer Care & Lighting said the pandemic has slowed growth of FMCG products in the rural areas of the country.
The company, known for Yardley soap and Santoor body lotion, said the topline for its domestic business grew in high-single digits compared to more than 10% in the same period last year.
"This time the rural market got impacted significantly, higher than last time," said CEO Vineet Agrawal.
Last year, after the first wave, the rural market recovered faster and reported almost double the growth of the urban market because the pandemic had not hit those areas as much. This time it was different.
"This year, quarter one, outside of India, Malaysia has done well and grew 20%, but it’s on a lower base. Vietnam has grown 7%, Middle East 8% and South Africa at about 30% plus,” Agrawal said.
Last fiscal, Wipro Consumer reported sales of Rs 8,400 crore, up 17% from Rs 7,700 crore in the year before, and operating margin of 12.7%.
Sales of talcum powder and deodorants increased 70-75% year-on-year in the three months ended June.
