Near-flat sales saw homegrown FMCG company Emami Ltd report an almost 24 per dip in standalone net profit to ₹79 crore for Q2 FY19, against ₹104 crore in Q2 FY18.
During the quarter under review, standalone revenue from operations stood at ₹572 crore, more or less flat YoY.
On a consolidated basis, the company saw its net profit decline 16 per cent to ₹83 crore while turnover remained flat at around ₹628 crore.
According to NH Bhansali, CEO – Strategy, Finance and Business Development and CFO, Emami, restocking across trade channels in Q2 of FY18 led to increased sales. Compared to that, sales in Q2 FY19 was flat. This, coupled with increased expenses (up 3 per cent) during the quarter saw the bottomline take a hit. “We have gained market share across categories like Navratna and so on,” he said.