Emami shares slip 6% as March quarter profit more than halves

Profit after tax during the quarter fell to Rs 23.36 crore from Rs 56.15 crore in the year-ago quarter

Shares of Emami slipped 6 per cent to Rs 207 on the BSE on Monday after the company reported disappointing set of numbers for the quarter ended March 2020 (Q4FY20), impacted severely by the Covid-19 pandemic.

The personal products company’s profit before tax before exceptional items (PBT) declined by 70 per cent year on year (y-o-y) to Rs 25.37 crore in Q4FY20, from Rs 84.77 crore in Q4FY19. Profit after tax during the quarter under review more-than-halved to Rs 23.36 crore from Rs 56.15 crore.

The company’s net sales decreased 17.7 per cent y-o-y at Rs 522.8 crore.