Emami Ltd Q3 net profit up 5 percent to Rs 144 crore
Homegrown FMCG major Emami Ltd witnessed a 5 percent rise in its net profit to Rs 144 crore ($20.2 million) for the third quarter ended December 31, 2019, as against Rs 138 crore it had reported a year ago.
The company’s revenue for the October-December quarter rose 1 percent to Rs 828 crore, as against Rs 820 crore it had reported in the corresponding period of the previous fiscal.
Emami's total expenses for the quarter were marginally up to Rs 549 crore for the quarter under review, as against Rs 548 crore last year.
“The company posted resilient growth during the quarter despite ongoing challenges such as overall weak consumption environment in the domestic business, weak rural demand, liquidity concerns and hike in food inflation. However, delayed onset of winters impacted the sales of winter portfolio leading to an overall flat revenue growth in Q3FY20 with consolidated revenues at Rs 813 crore," Emami Director Harsha V Agarwal said in a statement.
Emami director Mohan Goenka added: “Our international business and modern trade channel continues to perform well and we are hopeful that in the next 2-3 quarters, the overall consumption environment will improve to drive offtake.”
Emami Limited is one of the leading personal and healthcare businesses in India with a portfolio of over 300 products.
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