Companies

Emami’s net down 3% on slack rural offtake, prolonged winter

Our Bureau Kolkata | Updated on May 27, 2019 Published on May 27, 2019

The domestic business was impacted due to a prolonged winter affecting the sales of Emami's summer products like cool oils, talcs and deodorants. File photo

Domestic business grew by three per cent during the quarter due to muted growth of summer brands

A prolonged winter that affected sale of summer products, weak rural sentiments, adverse liquidity conditions and increase in raw material costs saw home-grown FMCG company Emami Ltd report an over three-per cent drop in standalone net profit to ₹48.53 crore for the quarter ending March 31, 2019.

The company had reported a standalone net profit of ₹50.21 crore in the year-ago-period.

The company, however, saw its standalone net sales (revenue from operations) increase by two per cent to ₹577.96 crore during the quarter under review.

On a consolidated basis, the company reported an over six per cent drop in consolidated net profit to ₹54 crore for the quarter ending March 31, 2019; as compared to ₹60 crore in the corresponding quarter last year. Revenue from operations stood at ₹640 crore in the period under review.

For the full year, the company reported a near flat consolidated net profit of ₹303 crore; while net sales grew by 6 per cent Y-o-Y to ₹2,693 crore.

The board has recommended a dividend of ₹4 per paid up equity share of ₹1 each.

 

Published on May 27, 2019
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