New Delhi, April 2 -- Consumer goods giant Marico on Thursday announced that it anticipates double-digit year-on-year growth in operating profit for the fourth quarter, bolstered by steady consumer interest. The manufacturer of Parachute hair products and Saffola oils noted a progressive recovery in consumption across its portfolio, ending several quarters of sluggish urban demand following GST reductions last September.

"We remain hopeful of a gradual improvement in consumption trends in the quarters ahead, while the macroeconomic impact of the evolving geopolitical situation in the Middle East is a key monitorable," Marico said in a statement.

Following the announcement, Marico's share price increased by 2.5%.

"We remain confident of...