FMCG maker Emami Ltd on Friday reported an 11.88 per cent y-o-y growth in its consolidated net profit to ₹260.65 crore for the third quarter of this fiscal from Rs 232.97 crore for the same period last fiscal.
During under review period, the company’s revenue grew 1.38 per cent y-o-y at ₹996.32 crore as against ₹982.72 crore, according to a stock exchange filing.
The company, in a release, said during the third quarter its international business grew 8 per cent. Gross margins stood at 68.8 percent which was improved by 290 basis points, EBIDTA margins improved by 170 bps during the period.
“The third quarter witnessed subdued demand trends particularly in rural markets. Moreover, the period was characterised by the late onset of winter, negatively impacting the demand for winter contextual products. Despite these challenges, the company navigated the dynamic business environment, demonstrating resilience and achieving profit-led growth during Q3FY24,” the company said.
Harsha V Agarwal, Vice Chairman and Managing Director, Emami Ltd, said, “Disrupted winter, weak rural demand and continued inflationary woes impacted the winter and discretionary offtakes. We remain committed to deliver volume led profitable growth going forward aided by accelerated scale up of emerging channels, distribution initiatives, ongoing brand and strategic investments coupled with launch of innovative products.”