Top FMCG players, including Hindustan Unilever, Dabur, Marico and Emami would have performed much better in first quarter had sales not been impacted by de-stocking ahead of GST implementation, according to industry experts.
While HUL reported a 9.28 per cent increase in its first quarter net profit at Rs 1,283 crore, Dabur India saw its net profit dip by 9.80 per cent at Rs 264.86 crore.
Likewise, Kolkata-based Emami Ltd posted 98 per cent decline in net profit at Rs 1.04 crore. Similarly, Marico also reported an 11.92 per cent decline in consolidated net profit to Rs 235.94 crore for the June quarter.
Godrej Consumer Products Ltd reported an 8.70 per cent decline in consolidated net profit at Rs 225.17 crore for the June quarter.
The companies, in their respective financial statements said their sales were impacted due to de-stocking by channel partners ahead of GST implementation in July.
"It was expected that companies would not come out with encouraging results as trade vacuum happened and they would have definitely performed better if the GST would not have been implemented," Godrej Group Chairman Adi Godrej told
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