Emami profit up 9.2% at Rs66.11 crore
Kolkata: Consumer goods maker Emami Ltd on Thursday said its net profit in the September quarter at Rs66.11 crore was up 9.2% over the same period a year ago on the back of a 10% increase in sales both in terms of value and volume.
Though operating margin increased by 130 basis points over a year ago to 30%, it isn’t reflected by Emami’s net profit growth because it had to make provisions towards the goodwill of the Kesh King brand acquired in June 2015. One basis point is 0.01 percentage point.
Emami’s revenue from operations in the September quarter jumped to Rs584.57 crore from Rs530.6 crore a year ago. Earnings before interest, depreciation, tax and amortisation (Ebidta) rose 15% year-on-year to Rs175.23 crore.
The company said it was setting up a new manufacturing unit at Guwahati, its third in the northeast, with a budget of Rs300 crore. Emami has already invested Rs195 crore, and the unit is expected to be commissioned in the current year, the company said in a statement.