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Growth revival in the core portfolio, rising contribution of high-margin brands, and stable cost environment expected to aid profitable growth
Rural rebound, seasonal tailwinds drove double-digit growth across core
Continued rural recovery remains the key growth driver
Total revenue of the company came at Rs 825.66 crore rising 6.8 percent.
The company had posted a consolidated profit after tax of Rs 118.45 crore in the second quarter last fiscal, Emami said in a regulatory filing.
Revenue from operations was up 14.89 per cent at Rs 933.61 crore in the quarter under review as against Rs 812.64 crore in the same period a year ago.
The company's board will meet on March 19 to consider the buyback and an interim dividend.
Its total income was at Rs 828.22 crore, up 1.02 per cent, during the quarter under review, as against Rs 819.83 crore in the corresponding period of the previous fiscal.
The promoters had sold 20 per cent stake in Emami Ltd in two tranches which fetched around Rs 2,830 crore and helped them reduce debt to Rs 2,200 crore at present.
Domestic business grew by three per cent during the quarter due to muted growth of summer brands.
The stake sale proceeds will be used to pare promoter debt which was used in creation of assets like cement and solar power among others, it added.
The Nifty50 is expected to open flat on Thursday following a mixed trend seen in other Asian markets.
Kolkata-based Emami Ltd today said it is scouting for acquisitions in the healthcare space to expand the footprint of its hospitals business in the country.
FMCG major Emami Ltd's Harsh Agarwal said that they were open to smaller, mid-size and even large size acquisitions. "As of now we are in talks to buy the personal care business of Paras Healthcare as an opportunity to acquire if it is available in the market," he said.
