Emami Q3 profit plunges 6 percent to Rs 138 crore

By

Maverick Martins

Published
Feb 1, 2019

FMCG firm Emami Limited saw its profit decline 6 percent to Rs 138 crore ($19.4 million) for the third quarter ended December 2018 as against Rs 147 crore it had posted during the same period last fiscal.
 

The company attributed the fall in profit to the voluntary retirement scheme (VRS) scheme at one of its units which cost the company Rs 10 crore.
 
The company reported strong sales during the quarter with revenue rising 7 percent to Rs 816 crore as against Rs 761 crore a year ago.

Commenting on the performance, Emami director Mohan Goenka in a statement said, “The onset of winter this quarter has been overall weak with its delayed arrival in some parts of the country. Due to this, the performance of the winter brand portfolio has been moderate. Additionally, there has been a challenge of sharp increase in raw material prices.”
 
"However, targeted correctional steps for some leading brands in the domestic market and strategic initiatives in the international business, as adopted during the last quarter, have resulted in encouraging growth in the respective sectors. Trade channels, especially modern trade has contributed significantly to the revenues," Goenka added.
 
Founded in 1974, Emami Limited is one of the leading personal and healthcare businesses in India, with a portfolio of over 300 products. It currently has operations in more than 60 countries including GCC, Europe, Africa, CIS countries and the SAARC.