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New Delhi: Homegrown FMCG major Emami Ltd on Monday reported a flat profit after tax of ₹180 crore for the second quarter that ended on September 30, 2023.
The company had posted a net profit of ₹180.13 crore in the July-September quarter a year ago, according to a regulatory filing.
However, Emami's revenue from operations rose 6.28% to ₹864.87 crore during the quarter as compared to ₹813.75 crore in the corresponding quarter.
The company's total expenses in the September quarter grew 2.07% to ₹631.20 crore.
Its total income in the quarter under review increased 2.36% to ₹875.98 crore.
In the September quarter, Emami had an expansion in gross margins by 350 basis points, reaching 70.1%, helped by lower raw material costs and judicious price hikes, according to a company's earnings statement.
"EBITDA soared to ₹234 crore, showcasing an impressive 20% growth, with margins at 27%, an increase of 300 basis points," the company said.
During the quarter, its domestic business "witnessed a commendable 4% growth with volume growth of 2%, driven by channels catering to urban markets such as modern trade and e-commerce," the Kolkata-based firm said.
Its international business also "expanded by 12% during the quarter, delivering a constant currency growth of 16%, primarily attributed to robust performances in the SAARC and MENAP regions," it added.
"Despite macroeconomic challenges, we achieved a 6% revenue growth. Notably, our gross margins expanded by 350 basis points, showcasing our operational excellence. EBIDTA soared by 20%, with margins expanding by 300 basis points, underscoring our dedication to value and quality," Emami Vice Chairman and Whole-Time Director Mohan Goenka said.
Meanwhile, the company's board considered and approved payment of the first interim dividend of 400%, which is ₹4% share on equity share of Re 1 each for the financial year 2023-24.
"With the government's support creating favourable conditions in rural markets, we're poised for a strong second half, amplifying our market presence," Goenka said.
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