Emami Q4 Profit Rises 3.6% to Rs 146.75 Cr, Revenue Up 6.6% - Business News

New Delhi, May 29 (PTI) Homegrown FMCG major Emami Ltd on Wednesday reported an increase of 3.62 per cent in its Profit After Tax (PAT) to Rs 146.75 crore for the fourth quarter that ended on March 31, 2024.

The company's PAT for the same quarter of the previous fiscal stood at Rs 141.62 crore, according to a company regulatory filing.

Emami's revenue from operations for the quarter under review was Rs 891.24 crore, up 6.61 per cent from Rs 835.95 crore in the same quarter last year.

"The Company achieved volume-led profit growth in the fourth quarter,” said an earning statement from Emami.

Its EBIDTA stood at Rs 211 crore grew by 6 per cent, the FMCG firm said.

Emami's total expenses were Rs 680.26 crore, up 7 per cent in the March quarter of FY24.

Its domestic business grew 8 per cent registering a volume growth of 6.4 per cent, it said.

"Major brands like BoroPlus, Pain Management range, Healthcare range, 7 Oils in One, The Man Company and Brillare performed strongly during the quarter,” said Emami.

However, extended winters led Navratna and Dermicool to post low single-digit growth, it added.

While its "International business grew by 9 per cent in constant currency and 8 per cent in INR terms driven primarily by the MENA region,” it said

Its total income, which includes other revenue, was up 6.14 per cent in the March quarter to Rs 901.94 crore.

"It is encouraging to witness signs of market recovery with rural gradually bouncing back. Our contribution from organised channels has increased to 26 per cent of our domestic business from 22 per cent in FY23," said Emami Vice Chairman and Whole-Time Director Mohan Goenka.

For the financial year, which ended on March 31, 2024, Emami's consolidated PAT was up 15.42 per cent to Rs 724.14 crore. It was at Rs 627.41 crore in the previous fiscal.

Its revenue from operations for FY24 was up 5.06 per cent to Rs 3,578.09 crore. It was at Rs 3,405.73 crore a year ago.

"Overall the company launched more than 50 products and variants in the domestic and international market in FY24 with the majority being Digital first products,” it said.

On the outlook, Emami said it remains "optimistic" about future growth, supported by a favourable economic landscape, forecast of a normal monsoon, anticipated rural market recovery, government initiatives, and promising macroeconomic factors.

Shares of Emami Ltd on Wednesday settled at Rs 516 on BSE, down 3.04 per cent from the previous close.