Emami reports 45% jump in profit after tax in FY21 Q3
Fast-moving consumer goods business Emami saw its profit after tax increase by 45% during the third quarter of the 2021 financial year, aided by cost control measures and favourable raw materials prices.
Emami’s profit after tax totalled Rs 202 crore ($30.4 million) in the third quarter of the current financial year, compared to Rs 114 crore in the same quarter during the 2020 financial year, TNN reported. The business also saw its gross margins grow by 210 basis points and revenue totalled Rs 845 crore, compared to Rs 748 crore during the same time period a year ago.
“The quarter witnessed an all-round growth across major brands; healthcare range grew by 38%, BoroPlus grew by 21%, Kesh King grew by 16%, pain management range by 12% and 7 Oils in One rose by 32%,” said Emami in a statement, TNN reported.
“Male grooming range recovered and posted positive growth led by the relaunch of Fair and Handsome Range.”
The business expects for this growth trajectory to continue and noted that its health and hygiene brand 7 Oils in One is growing especially swiftly. Emami’s domestic business grew by 16% during the quarter with 13% volume growth.
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