FMCG firm Emami today reported a consolidated net profit of Rs 26.95 crore for the first quarter ended June 30, 2018, led by growth in revenue and volume. The company had posted a consolidated net profit of Rs 0.89 crore during the April-June period a year ago, the company said in a BSE filing.
Emami’s total income stood at Rs 616.34 crore during the quarter under review. It was at Rs 545.62 crore in the corresponding quarter of the previous fiscal. Commenting on the results, Emami Director Mohan Goenka said, “We started the year FY19 with 19 per cent growth in the first quarter. Both volume and revenue registered a handsome recovery, compared to the GST-impacted corresponding quarter of the last year.”
Meanwhile, Emami said its revenue for the quarter under review was not comparable due to implementation of GST. “Reported revenue in Q1FY19 is not comparable with Q1FY18 due to changes in accounting treatment of indirect taxes post the implementation of GST from July 1, 2017,” the company said.
Total expenses of the Kolkata-based firm were at Rs 490.86 crore. Emami, in a statement said its domestic business grew by 21 per cent, with major brands such as Navratna, Pain Management Range, 7 Oils in One, Male Grooming range and healthcare posting strong volume-led growth.
“The wholesale channel saw some recovery, while the direct rural channel and modern trade continued their growth trajectory. Market share gains continued for key brands,” said Emami.
Internationally, the volatile business environment affected the Commonwealth of Independent States (CIS) market. “However, an exceptional performance by the SAARC and MENAP regions have been instrumental in pulling off growth for this quarter,” said Emami Director, Mohan Goenka. Shares of Emami were trading at Rs 568 today, 3.93 per cent lower from its previous close.