Emami Q1 net up 24pc, power brands in limelight
DELHI: FMCG firm Emami Ltd on Wednesday reported a 23.92% increase in consolidated net profit at Rs.87.75 crore for the first quarter ended June 2015 on the back of strong performance of its power brands and growth in international business. The company had posted a net profit of Rs.70.81 crore a year earlier. Net sales rose 22.44% to Rs.589.87 crore in the said quarter, from Rs.481.73 crore in the year-ago period, Emami said in a BSE filing.
"Strong performance by all our power brands in key categories, coupled with growth in international business, has helped us register a 22.4% top line growth," Emami Director Mohan Goenka said in a statement. During the quarter, Emami's domestic business grew 23.4% while international operations paced up at 21.8%. The company's power brands include Navratna Oil, Zandu Balm and Fair & Handsome. Emami acquired hair and scalp care brand Kesh King for Rs.1,684 crore in the quarter under review. "The company raised around Rs.950 crore debt to partially fund the acquisition. The balance was funded by internal accrual," Emami said. The stock was trading at Rs.1,339.45 on BSE, up 0.89%, in the afternoon trade.