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Emami net rises 31%

Calcutta, Jan. 20: Emami Ltd has reported a 31 per cent growth in consolidated net profit at Rs 150.68 crore for the third quarter ended December 31 against Rs 114.93 crore in the same quarter a year ago.

Net income from operations rose 6.6 per cent to Rs 584.67 crore from Rs 548.44 crore. The company attributed the low growth in the topline to an unfavourable winter and moderation in the growth of the sector.

Cost of materials consumed during the quarter increased 4.52 per cent to Rs 164.39 crore from Rs 157.28 crore during the same period the previous year.

Total expenses, however, were lower at Rs 414.04 crore against Rs 416.99 crore.

The company board today recommended an interim dividend of Rs 3 per equity share and set January 27 as the record date to determine shareholders entitled to receive it.

“Despite depressed market conditions because of the sluggish economy, high inflation and erratic weather, Emami has been able to sustain modest growth,” Emami director Mohan Goenka said.

“While demand for our products is good leading to continuous increase in market shares in key categories, delayed and erratic winter has affected off-takes in the quarter,” Goenka said.

Emami said easing input prices and measures taken for cost optimisation had resulted in margin expansion, resulting in a 29.1 per cent growth in earnings before interest, depreciation, tax and amortisation.

“International business has performed well with aggressive growth in GCC (Gulf Cooperation Council) and Saarc countries,” he said.

The company reported a 37 per cent topline growth in its international business.

 
 
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