Emami Q1 net up 24 per cent at Rs 87.75 crore

NEW DELHI: FMCG firm Emami today reported a 23.92 per cent increase in consolidated net profit at Rs 87.75 crore for the first quarter ended June 2015 on the back of strong performance of its power brands and growth in international business.

The company had posted a net profit of Rs 70.81 crore a year earlier.

Net sales rose 22.44 per cent to Rs 589.87 crore in the said quarter, from Rs 481.73 crore in the year-ago period, Emami said in a BSE filing.

"Strong performance by all our power brands in key categories, coupled with growth in international business, has helped us register a 22.4 per cent top line growth," Emami Director Mohan Goenka said in a statement.

During the quarter, Emami's domestic business grew 23.4 per cent while international operations paced up at 21.8 per cent.

The company's power brands include Navratna Oil, Zandu Balm and Fair & Handsome.

Emami acquired hair and scalp care brand Kesh King for Rs 1,684 crore in the quarter under review.

"The company raised around Rs 950 crore debt to partially fund the acquisition. The balance was funded by internal accrual," Emami said.

The stock was trading at Rs 1,339.45 on BSE, up 0.89 per cent, in the afternoon trade.