Emami Ltd’s Q4 net profit declines 59 percent to Rs 23 crore
FMCG firm Emami Ltd reported a 59 percent drop in its consolidated net profit to Rs 23 crore ($3.1 million) for the March quarter, as against Rs 56 crore it had posted in the year-ago period.
The company’s revenue for the quarter was down 17 percent to Rs 533 crore, as against Rs 640 crore in the corresponding period of the previous fiscal.
For the fiscal year 2019-20, Emami’s net profit was marginally down to Rs 302.30 crore from last year’s Rs 302.53, while revenue dropped by 1 percent in 2019-20 at Rs 2,655 crore from Rs 2,695 crore in 2018-19.
Commenting on the outlook, Emami director, Harsha V Agarwal, in a statement said: “The company has geared to respond to these demands, which are relevant in today's time and has forayed into hand sanitizer, soaps and handwashes under the Boroplus brand and few other products in health care under the Zandu brand.
“We are aggressively pushing to launch more products in both personal hygiene and healthcare categories in the next one to two months. As the current situation is gradually improving to reach normalcy the demand for discretionary products could quickly come back to normal,” he added.
Emami Limited is one of the leading personal and healthcare businesses in India, with a portfolio of over 300 products.
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