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Amortisation of intangibles post the acquisition of Kesh King, saw FMCG major, Emami Ltd, report an over 48 per cent dip in standalone net profit to Rs 64 crore for the quarter ending December 31, 2015. The Kolkata-based company had reported a standalone net profit of Rs 132 crore (apprx) in the corresponding period last fiscal.
Intangibles amortised to the tune of Rs 73 crore during the fourth quarter of the fiscal primarily include trademarks and brands.
Emami had acquired the Kesh King and allied brands in June last year for Rs 1,684 crore; funded through a mix of internal accruals and debt.
“Despite the dip in standalone net profits, cash profit improved by 8 per cent to Rs 153 cr for Q4 (as compared to Rs 142 cr in the year-ago-period,” NH Bhansali, CEO – Finance, Strategy and Business Development, Emami, said.
On a consolidated basis too net profit dipped by nearly 45 per cent to Rs 76 crore during the period under review. It stood at Rs 138 crore in the year-ago-period.
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