Emami Q3 net up 22% at Rs 115 cr

FMCG firm Emami Ltd today reported 21.60% increase in consolidated net profit at Rs 114.93 crore for the third quarter ended December 31, 2012, on strong sales in the domestic market.

The Kolkata-based firm had posted a net profit of Rs 94.51 crore in the same period of previous fiscal.

Net sales of the company rose to Rs 548.65 crore for the third quarter, as against Rs 452.36 crore in the corresponding period of 2011-12 fiscal, Emami Ltd said in a statement.

"Consumer sentiment in both the rural and the urban sector continued to be positive. With winter setting in early this year, consumer demand has been strong during this quarter which helped in maintaining a robust top-line growth," Emami CEO-Finance, Strategy and Business Development Naresh H Bhansali said.

During the quarter, the company said its domestic business grew by 21.7% to Rs 465 crore, as compared to the same period of previous fiscal.

"The growth was led by Boroplus Antiseptic cream aided by good winter season. Other Power Brands--Navranta, Zandu and Fair & Handsome also grew in line with expectations," it said.

During the period under review, the company's international business business grew by 25% to Rs 48 crore, as compared to the same period of 2011-12 fiscal, it said.

The company's first overseas manufacturing facility started operations in Bangladesh in the third quarter, it added.

Shares of Emami today ended at Rs 575.05 on the BSE, down 1.54% from their previous close.