Emami Q1 net profit rises 30% to Rs 61 cr

Moneycontrol Bureau

Kolkata-based Emami on Wednesday said its consolidated net profit in the first quarter rose 30 percent year-on-year to Rs 61 crore, helped by a growth in sales and lower raw material costs. The personal care product maker's revenue in the April-June quarter was up 13 percent from a year ago to Rs 384 crore. Emami's raw material costs in the quarter were down 7 percent to Rs 96 crore. The company also benefited from a foreign exchange gain of about Rs 3 crore, compared with a loss of Rs 2 crore, a year ago. Emami shares were down close to 2 percent at Rs 454.15 on NSE in noon trade. The stock is down 23 percent so far this financial year.