Calcutta, May 5: FMCG company Emami’s consolidated net profit grew 18.27 per cent to Rs 111.15 crore for the quarter ended March 31, 2014 from Rs 93.98 crore in the corresponding previous period. Net income from operations dipped 1.16 per cent to Rs 445.71 crore from Rs 450.95 crore.
The company attributed the fall in net income to an unfavourable season marked by erratic winter and delayed summer, and certain corrections in inventory.
The company board has recommended a dividend of 400 per cent, or Rs 4 per equity share of Re 1 each, for the year ended March 31, 2014 subject to shareholder approval. It had earlier announced and paid an interim dividend of 300 per cent, or Rs 3 per equity share of Re 1 each, in January this year.
Emami has brought its expenses under control with total expenditure of Rs 345.21 crore during the quarter, down from Rs 356.90 crore in the same period a year ago.
“In this depressed market environment characterised by sluggish economy, high inflation and erratic weather, Emami has strengthened market shares in key categories, conserved resources and delivered good profits with marginal sales decline,” said director Mohan Goenka.