Emami posts 86.6% y-o-y growth in net profit at Rs 137.70 crore in Q1; stock jumps over 2%

7 Aug 2023 , 03:15 PM

On August 7, Emami Ltd. declared a consolidated net profit of Rs 137.7 crore for the April-June quarter of FY24, an increase of 86.6% from Rs 73.8 crore in the same period of the previous financial year.

The company’s total revenue was Rs 825.66 crore, up 6.8% from Rs 773.31 crore in the previous corresponding quarter, according to a regulatory filing.

EBITDA for the quarter was Rs 190 crore in Q1FY24, up 10% y-o-y. The EBITDA margin came in at 23%, up 60 basis points on a year-on-year basis.

Excluding summer portfolio sales, domestic business increased by 16%, while overall domestic business increased by 7% in Q1FY24, according to a press statement issued by the company. However, due to the impact of unseasonal rainfall, the summer portfolio fell by 5% during the quarter.

In overseas markets, key brands like Navratna, 7 Oils in One, Fair and Handsome, and Creme 21 experienced substantial double-digit growth throughout the quarter.

The company also completed a share buyback worth Rs 185.3 crore during the quarter (excluding brokerage, taxes, and levies).

At around 3.13 PM, Emami was trading 2.39% higher at Rs 460.95, against the previous close of Rs 450.20 on NSE. The counter touched an intraday high of Rs 462.95.

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