FMCG major Emami on Monday reported a consolidated net profit of ₹179.99 crore for the second quarter this fiscal, registering a decline of 0.07 percent year-on-year.

The company’s net profit for the second quarter last fiscal stood at ₹180.13 crore.

Revenue from operations of the company rose 6.28 per cent y-o-y to ₹864.47 crore for the period under review from ₹813.75 crore for the same period last fiscal, the company said in a stock exchange filing.

overcoming challenges

The company, in a release, said it demonstrated “remarkable resilience” in the second quarter and half-year ended on September 30, 2023, overcoming challenges such as poor monsoons, food inflation, and subdued demand in rural markets.

“The domestic business witnessed a commendable 4 per cent growth with a volume growth of 2 per cent, driven by channels catering to urban markets such as Modern Trade and E-commerce. The International business also expanded by an impressive 12 per cent during the quarter, delivering a constant currency growth of 16 per cent, primarily attributed to robust performances in the SAARC and MENAP regions,” it said.

In the first half of FY24, the company achieved a 7 per cen growth in revenues and expanded gross margins by 290 basis points, which led to a 15 per cent surge in Ebidta, with margins reaching 25.1 per cent . Ebitda margin expanding by 180 basis points during the period.

Harsha V Agarwal, Vice Chairman and Managing Director, Emami Limited said, “In this dynamic and challenging environment, our results exemplify our dedication to growth and innovation, marked by a good increase in both volumes and revenues. Strong performance by both Modern Trade and e-commerce has led to a decent revenue growth of 6 per cent and an impressive constant currency growth of 16 per cent in our international business during this quarter.”

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