FMCG firm Emami reported a net consolidated net profit of Rs 26.95 crore for the first quarter ended on June 30, 2018 led by growth in revnue 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 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 last year.”
Meanwhile, Emami said that its revenue for the quarter under review were 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 was at Rs 490.86 crore.
Emami, in a statement, said its domestic business grew by 21 per cent with major brands like Navratna, Pain Management Range, 7 Oils in One, Male Grooming range and Healthcare posting strong volume-led growth.
“Wholesale channel saw some recovery, Direct Rural channel and Modern trade continued their growth trajectory. Market share gains continued for key brands,” said Emami.
While, internationally, volatile business environment affected the Commonwealth of Independent States (CIS) market.
“However, exceptional performance by SAARC and MENAP regions have been instrumental to pull 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 previous close.