Homegrown FMCG (fast-moving consumer goods) company Emami Ltd on Monday reported a Profit After Tax of Rs 137.7 crore for the April-June quarter of FY24 after it registered a growth of 88.1 percent. This is considerably higher than the Rs 72.69 crore reported in the same quarter of the previous financial year.
The total revenue of the company came in at Rs 825.66 crore, rising 6.8 percent from Rs 773.31 crore in the year-ago quarter, the company said in a regulatory filing.
Earnings before interest, tax, depreciation, and amortization (EBIDTA) for the quarter was at Rs 190 crore, growing by 9.6 percent. The EBIDTA margin was at 23 percent and grew by 60 basis points YoY.
“We are happy to report a 7 percent growth in domestic business despite the challenging operating environment. While erratic summer and unseasonal rains impacted summer product offtakes, our non-summer portfolio grew strongly by 16 percent," said Harsha V Agarwal, Vice Chairman and Managing Director.
The domestic business, excluding the summer portfolio sales, grew 16 percent. In a press release,
Emami said the comprehensive growth of the domestic business in Q1FY24 reached 7 percent. The summer portfolio experienced a 5 percent decline during the quarter, attributed to the adverse impact of unseasonal rains.
Modern trade and e-commerce continued to perform well, growing by 45 percent and 47 percent, respectively, over the previous year. Emami's international business grew by 8 percent during the quarter with a constant currency growth of 11 percent led by strong growth in the SAARC, GCC and CIS regions. From the product perspective, Emami's pain management range, healthcare range, and
BoroPlus grew strongly in double digits while
Dermicool posted a high single-digit growth. The Kesh King and male grooming range, being discretionary in nature, posted a muted growth
The company also concluded a buyback of its shares amounting to Rs 185.3 crore (excluding brokerage, taxes, and levies).
Shares of Emami, after it reported its earnings, were trading at Rs 460, up 2.21 percent from the previous close on the NSE.
