Emami Profit Rises Rs 98.90 Crore in Second Quarter

Fast moving consumer goods firm Emami reported about 50% rise in net profit of Rs 98.90 crore in the second quarter ended September 30. Company had posted a net profit of Rs 65.87 crore last year.

Revenue from operations during the quarter under review stood at Rs 628.12 crore as against Rs 583.51 crore last year. Company’s international business grew at 22 percent despite a challenging business environment led by SAARC, CIS and Africa.

Emami Director Mohan Goenka said “After a challenging Q1 faced with GST apprehensions resulting in substantial wholesale destocking, in the second quarter, we have recovered significantly. Post GST, the wholesale channels are yet to recover completely from the impact, which we expect to improve in the second half of the year. International business is also back on track riding on the base effect of last year's performance. The SAARC regions and Africa did particularly well”.