Consumer products major Emami reported a net profit of Rs 260.65 crore for the December quarter of FY24, registering a growth of 11.8 percent from Rs 232.97 crore posted a year back.
FMCG major Emami, on Friday, posted an increase of 8.1 percent in ad spends in the last quarter of 2023. The company spent Rs 165.73 crore in advertising in the quarter ended December 31, 2023 versus Rs 153.26 crore in the same quarter, previous year.
Total revenue of the company stood at Rs 996.32 crore, up 1.38 percent from Rs 982.72 crore last year, the company said in a regulatory filing.
The company’s Earnings before interest, tax, depreciation and amortization (EBIDTA), amounting to Rs 315 crore, experienced a growth of 7 percent, while margins increased by 170 basis points to reach 31.6 percent.
The company experienced stagnant growth in its Domestic Business, while non-winter products saw a 5 percent increase. In contrast, the International business achieved an 11 percent growth in constant currency, largely driven by strong performance in the MENAP region.
Throughout the quarter, the Company introduced Zandu Agni Balm, a potent multi-purpose balm aimed at countering regional competition and expanding its overall balm portfolio market share.
Additionally, the Company launched five digital-first products on its D2C portal Zanducare, including Zandu Mahabhringraj Tel, Zandu Shilajitprash, Zandu Livital – Ayurvedic Liver Syrup & Tablets, and Zandu Dantveer Ayurvedic Toothpaste. Furthermore, in the International markets, the Company introduced Creme21 Pure Glycerin Oil and expanded its 7 Oils in One Double Conditioning Shampoo range.
The company holds a positive outlook for future growth, buoyed by favorable economic conditions, a favorable trend in inflation, expected recovery in rural markets, government initiatives, and promising macroeconomic factors. These elements collectively contribute to a confident expectation of sustained positive performance.
“Disrupted winter, weak rural demand and continued inflationary woes impacted the winter and discretionary offtakes. We remain committed to deliver volume led profitable growth going forward aided by accelerated scale up of emerging channels, distribution initiatives, ongoing brand and strategic investments coupled with launch of innovative products” said Harsha V Agarwal, Vice Chairman and Managing Director.