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Emami share price gains after Q3 profit rises 45%; CLSA downgrades stock to outperform

Revenue from operations was up 14.89 percent at Rs 933.61 crore in the quarter under review as against Rs 812.64 crore in the same period a year ago.

January 28, 2021 / 09:48 AM IST
Emami products | Representative images

Emami products | Representative images

 
 
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Emami share price was trading higher in the morning session on January 28 after the company declared its Q3 results.

The homegrown FMCG firm on January 27 reported 44.67 percent rise in consolidated net profit at Rs 208.96 crore for December quarter 2020 helped by sales growth and cost control measures. The company had posted a profit after tax of Rs 144.44 crore for the year-ago period, Emami said in a regulatory filing.

Revenue from operations was up 14.89 percent at Rs 933.61 crore in the quarter under review as against Rs 812.64 crore in the same period a year ago. During the quarter, both profits and margins of Emami increased significantly. Stringent cost control measures and benign raw material prices, helped the company improve its margins, said Emami in an earning statement.

Total expenses were at Rs 593.42 crore in the latest quarter, up 8.16 per cent from Rs 548.62 crore in the same period a year ago. Led by a favourable season and a favourable consumption environment, the company posted a strong growth of 16 per cent in its domestic business led by 13 per cent growth in volumes. The quarter witnessed an all-round growth across major brands, said Emami.