Emami Q4 results: Profit falls by 60% to Rs 142 crore
Emami Q4 results: Net sales for the quarter witnessed a growth of 7.2 per cent YoY to Rs 816.60 crore compared with Rs 761.90 core in the corresponding quarter last year.
Emami, a major player in the FMCG sector, reported a 60 per cent YoY fall in consolidated profit after tax (PAT) at Rs 141.62 crore for the quarter ending in the March quarter, however, the figure stood at Rs 354.11 crore in the same quarter last year. Net sales for the quarter witnessed a 7.2 per cent YoY growth to Rs 816.60 crore compared to Rs 761.90 core in the corresponding quarter last year.
The revenue for the quarter went up by more than 8 per cent as it stood at Rs 835.95 crore in this quarter, which previously was at Rs 768.19 crore in the same quarter last year. The EBITDA margin went up by 260 bps at 23.9 per cent for this quarter.
“Despite challenging demand scenario on account of high inflation, muted rural sentiments and unseasonal rains, we have delivered a resilient profit led growth in Q4FY23. After a few quarters of ongoing pressure on input costs, we have expanded our Gross & EBIDTA Margins delivering 20 per cent EBIDTA growth. Our strategic investments and Dermicool acquisition have performed well and contributed to this growth. We will continue to make significant investments behind our core brands, innovations, channel expansions and digital optimisations which are expected to contribute immensely to future growth,” said Harsha V Agarwal, Vice Chairman and Managing Director, Emami.
The share price of Emami opened at Rs 390 on Thursday morning and touched a high of Rs 391.40. However, the share price was down by 1.5 per cent on Thursday, before the results came out.
The company attributed the decline in net profit to muted demand for personal care products and excessive rainfall in many parts of the country in March, which impacted the demand for summer products.
The domestic business grew by four per cent in FY23 on a higher base of COVID contextual categories like in pain management and healthcare range, it added.
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