Emami Ltd Q3 net profit rises 6 percent to Rs 233 crore

By

Maverick Martins

Published
Feb 3, 2023

Emami Ltd reported a 6 percent rise in its net profit to Rs 233 crore ($28.5 million) for the third quarter ended December 2022, as against Rs 220 crore posted in the year-ago period.

The company’s revenue for the quarter rose by 1 percent to Rs 983 crore, as against Rs 971 crore in the corresponding period of the previous fiscal year.

Emami's total expenses during the October-December quarter were at Rs 688 crore, up 9 percent from Rs 630 crore reported in the same period last year.

During the quarter, the company’s urban-centric new age channels like modern trade grew by 20 percent while e-commerce grew by 45 percent accounting for 18 percent of domestic revenue in Q3.

Commenting on the results, Harsha V Agarwal, managing director of Emami Limited in a statement said, “The environment has been challenging due to high inflation, consumption slowdown, poor rural growth and a warmer winter. In the given circumstances, we have delivered satisfactory performance with a 7 percent revenue growth on a 3-year CAGR basis in Q3FY23.”

“We continue to invest strongly behind our power brands, innovations, channel expansions and distribution optimizations. We believe that these sustained efforts will help us achieve sustainable and profitable growth,” he added.

The Kolkata-based firm Emami is one of India’s leading fast moving consumer goods companies with brands such as Navratna, BoroPlus, Fair & Handsome, Zandu Balm, Mentho Plus and Kesh King among others.