New Delhi: Marico's domestic business logged a volume growth of high single digit in the second quarter of the current fiscal, despite facing a transitory impact from the disruption created by the implementation of new GST slabs.

However, Marico "expects modest operating profit growth on a year-on-year basis" as it extended discounts on the pipeline inventory to its channel partners during the two weeks leading up to the effective date of the GST rate changes and high commodity prices, the company said in its latest quarter updates.

The government announced the Next-Generation (GST 2.0) reforms on September 4, lowering tax on most daily essentials, including food and personal care products, which took effect from September 22.

The GST rationalisation has benefited 30 per cent of its Ind

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