Emami Ltd. reported consolidated net profit at Rs 137.7 crore for the April-June quarter of FY24 on August 7, registering a growth of 86.6 percent from Rs 73.8 crore in the same quarter of the previous financial year.
Total revenue of the company came at Rs 825.66 crore, rising 6.8 percent from Rs 773.31 crore in the year-ago quarter, the company said in a regulatory filing.
Earnings before interest, tax, depreciation and amortization (EBIDTA) for the quarter was at Rs 190 crore growing by 10 percent. EBIDTA margin was at 23 percent and grew by 60 basis points YoY. One basis point is one-hundredth of percentage point.
“We are happy to report a 7 percent growth in domestic business despite challenging operating environment. While erratic summer & unseasonal rains impacted summer product offtakes, our non-summer portfolio grew strongly by 16 percent." said Harsha V Agarwal, Vice Chairman and Managing Director.
Excluding the sales of summer portfolio, domestic business grew strongly by 16 percent, while the overall growth of domestic Business in Q1FY24 stood at 7 percent, the company said in a press release. However, the summer portfolio declined by 5 percent during the quarter due to the impact of unseasonal rains.
Modern Trade and eCommerce continued to perform well growing by 45 percent and 47 percent respectively over previous year. International business grew by 8 percent during the quarter with a constant currency growth of 11 percent led by strong growth in SAARC, GCC & CIS regions. The quarter also witnessed strong double-digit growth of major brands like Navratna, 7 Oils in One, Fair and Handsome and Creme 21 in
the international markets.
The Company also concluded Buyback of its shares amounting to Rs 185.3 crore (excluding brokerage, taxes & levies). Following the Buyback, share capital reduced from Rs 44.12 crore to Rs 43.65 crore equity shares and promoter stake increased from 54.27 percent to 54.84 percent.
Following the earnings, share price of Emami rose 2.45 percent to Rs 461.25 as of 2:38 pm on NSE.
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