Emami shares surge nearly 7 pc post Q4

Shares of FMCG firm Emami today soared nearly 7 per cent on encouraging net sales in the fourth quarter ended March.
The stock jumped 6.20 per cent to settle at Rs 1,039.20 on BSE. During the day, it climbed 13.47 per cent to Rs 1,110.40.
On NSE, it gained 6.83 per cent to close at Rs 1,045.05.
Emami yesterday reported a 45.2 per cent decline in consolidated net profit at Rs 75.9 crore for the fourth quarter ended March on account of amortisation of Kesh King intangibles.
The Kolkata-based company had reported a net profit of Rs 138.3 crore in January-March a year ago.

Net sales during the quarter under review was up 21.2 per cent at Rs 668.98 crore as against Rs 552.12 crore in the same period last fiscal.

Emami had acquired Kesh King and allied brands in June for Rs 1,684 crore, which was funded through a mix of internal accruals and debt.
The international business grew by 17 per cent during the quarter and 15 per cent in 2015-16 despite economic challenges in overseas markets like Russia.
For the full fiscal, Emami reported a consolidated net profit of Rs 359.1 crore, down 26.1 per cent, from Rs 485.6 crore in the same period a year ago.

Emami's net sales for 2015-16 increased 18.4 per cent to Rs 2,619.3 crore as against Rs 2,213.2 crore.