GST drags net profit of Emami to Rs. 0.9 crore
DSIJ Intelligence / 02 Aug 2017
Total sales for this quarter, Q1FY18, came in at Rs. 541.1 crore. This represents a 6.34 per cent sequential decline and 16.16 per cent YoY decline.
Emami Ltd. reported its results for the quarter ended June 30, 2017 today.
Total sales for this quarter, Q1FY18, came in at Rs. 541.1 crore. This represents a 6.34 per cent sequential decline and 16.16 per cent YoY decline.
Operating profit (EBIT) for the recently concluded quarter amounted to Rs. 80.17 crore and the EBIT margin stood at 14.82 per cent.
In terms of the bottom-line, the company reported a PAT figure of Rs. 0.89 crore which represents a sequential QoQ decline of 98.93 per cent and a YoY decline of 98.43 per cent.
Company stated that GST implementation lead to destocking which resulted in decline of revenue. Additionally, it stated that company’s aggressive investment in promotional activity impacted on its bottom-line. This aggressive promotional activity was carried out to endorse new launches viz Zandu gel, Zandu spray, Zandu roll on, Fair & Handsome oil control face wash, HE on the go face wash and Navratna i- COOL.
In response to this result, the stock of Emami tanked nearly 5 per cent to touch today’s low of Rs. 1020.6. However, later it recovered and while writing it was trading at Rs. 1064, down by 0.9 per cent.
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