Emami posts Q1 net profit of Rs 26.95 cr on growth in revenue and volume; total income stands at Rs 616.34 cr
Emami said its domestic business grew by 21 percent with major brands like Navratna, Pain Management Range, Male Grooming range posting strong volume-led growth
New Delhi: FMCG firm Emami on Wednesday reported a net consolidated profit of Rs 26.95 crore for the first quarter ended on 30 June, 2018 led by growth in revenue and volume.
The company had posted a consolidated net profit of Rs 0.89 crore during the April-June period a-year-ago, the company said in a BSE filing.
Emami's total income stood at Rs 616.34 crore during the quarter under review. It was at Rs 545.62 crore in the corresponding quarter of the previous fiscal.
Commenting on results Emami Director Mohan Goenka said, "We started the year FY19 with 19 percent growth in the first quarter. Both volume and revenue registered a handsome recovery compared to the GST impacted the corresponding quarter of last year."
Emami said that its revenue for the quarter under review was not comparable due to the implementation of GST.
"Reported revenue in Q1FY19 is not comparable with Q1FY18 due to changes in accounting treatment of indirect taxes post the implementation of GST from 1 July, 2017," the company said.
Total expenses of the Kolkata-based firm was at Rs 490.86 crore.
Emami, in a statement, said its domestic business grew by 21 percent with major brands like Navratna, Pain Management Range, 7 Oils in One, Male Grooming range and Healthcare posting strong volume-led growth.
"Wholesale channel saw some recovery, Direct Rural channel and Modern trade continued their growth trajectory. Market share gains continued for key brands," said Emami. While, internationally, volatile business environment affected the Commonwealth of Independent States (CIS) market.
"However, exceptional performance by SAARC and MENAP regions have been instrumental to pull off growth for this quarter," said Emami Director Mohan Goenka.
Shares of Emami were trading at Rs 568 on Wednesday, 3.93 percent, lower from the previous close.
At the closing bell on Friday, all the sectoral indices except for Nifty Pharma were trading in the negative; Nifty Financial Services was down by 3.03 percent
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