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Home-grown FMCG company, Emami Ltd, reported a 6 per cent decline in consolidated net profit to Rs 138 crore for the period ending December 31, 2018. Net profit in the year-ago-period stood at Rs 147 crore.
Payout of a one-time VRS to the tune of Rs 10 crore at one of the units led to a decline, the company said in a statement.
Revenue from operations during the quarter saw a seven per cent rise to Rs 811 crore.
Despite a delayed winter in some parts of the country resulting in a subdued performance by the winter brands, non-winter brands grew by 10 per cent during the quarter in the domestic business.
International business grew by 18 per cent due to “a strong performance” in SAARC and MENAP regions.
Margins Under Pressure
However, margins continued to be under pressure because of a “sharp increase in raw material costs”.
During the quarter under review, gross margins stood at 67 per cent and declined by 380 bps.
EBIDTA margins stood at 32.9, thereby witnessing a decline of 210 basis points
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