FMCG company Emami’s first quarter consolidated net profit rose 18% year-on-year to Rs 41.50 crore as a higher other income and lower tax expense offset a surge in cost of raw materials......
FMCG company Emami’s first quarter consolidated net profit rose 18% year-on-year to Rs 41.50 crore as a higher other income and lower tax expense offset a surge in cost of raw materials.
Emami’s consolidated income from operations in April-June was up 24% year-on-year to Rs 299.91 crore helped by strong sales growth in some of its brands like Navratna oil, Zandu Balm and Fair & Handsome cream.
During the three-month period, the company’s other income rose to Rs 3.11 crore from Rs 89 lakh and tax expense was lower at Rs 1.33 crore, compared with Rs 3.75 crore a year ago.
However, Emami’s profit from operations before other income, interest and exceptional items fell 1.2% in the first quarter to Rs 36.40 crore as input costs soared 60% from a year ago to Rs 91.68 crore.
Emami shares Friday closed down 3.9% at Rs 480 on NSE.
Addressing a press conference, the management also said that hike in base rate is expected to improve the margins further. “We expect net interest margins (NIMs) of above 3.5% in FY12.”
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