Emami Ltd’s June quarter profit drops to Rs89 lakh on GST disruptions
Disruptions in trade-distribution ahead of GST implementation dragged down Emami Ltd’s June quarter net profit to Rs89 lakh from Rs56.6 crore year ago
Kolkata: Disruptions in trade-distribution ahead of implementation of goods and services tax (GST) dragged down consumer goods maker Emami Ltd’s June quarter net profit to Rs89 lakh from Rs56.6 crore in the same period a year earlier.
Net sales of the company fell 16% year-on-year to Rs541 crore as distributors cut inventory ahead of implementation of GST from 1 July.
Director Harsh Agarwal said things are expected to stabilise over the next two quarters.
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