Emami turns volatile post June quarter results

The stock was trading flat at Rs 1,073, bouncing back 5% from intra-day low of Rs 1,020 on the NSE

Emami was trading flat at Rs 1,073, bouncing back 5% from intra-day low on National Stock Exchange (NSE), after the company said the June quarter performance was impacted due to Goods & Service Tax (GST)-led destocking and inventory correction in the international markets.

Going forward, the company expects to regain the momentum in the balance period of the fiscal.

The stock of the personal products company dipped 5% to Rs 1,020 after the company reported a consolidated net profit at Rs 1 crore against an average analysts estimate of Rs 69 crore in June quarter (Q1FY18). The stock