Emami has reported a revenue of Rs 813.75 crore in Q2 of FY23, amounting to 3.38% increase as compared to the corresponding quarter in the previous financial year.
The company has registered a 5.23% increase in revenue in the second quarter from Q1 of FY22 when it has reported a revenue of Rs 773.31 crore.
Additionally, the advertisements and sales promotion expenses of Emami stand at Rs 141.48 crore in Q2 of FY23, which highlights an increase of 34.33% from the Rs 105.32 crore reported in the corresponding quarter of the previous year.
On a Quarter-on-Quarter basis as well, Emami’s ad spends grew by 3.80%, compared to Rs 136.30 crore it had spent in Q1 of FY23.
The Profit Afer Tax of Emami stood at Rs 180.13 crore in Q2 of FY23, marking a decline of 2.76% on a YoY basis. The PAT in the corresponding quarter of the last year stood at Rs 185.25 crore.
However, on a QoQ basis, Emami’s PAT was up by 147.81% in the second quarter of FY23.
Harsha V Agarwal, Vice-Chairman and Managing Director, Emami, said, “With our strong focus on cost control, distribution expansion, aggressive marketing campaigns and driving penetration, we expect to deliver double digit growth with healthy margins in the second half. Thus, on a full year basis, we aspire to deliver double digit growth with higher EBIDTA than previous year for our core business.”
The domestic FMCG industry continued to remain soft during the quarter and demand sentiment remained muted due to continued inflation, rural slowdown and liquidity pressure, as per Emami.
Mohan Goenka, Vice-Chairman and Whole-Time Director, Emami, also said, “Consumer demand remained muted across markets with high inflation affecting consumption, especially in the rural markets. As anticipated, we witnessed a correction in the Covid contextual portfolio of pain management and healthcare products which grew significantly during the last two years.”
“In the given context, the quarter delivered a low single digit growth on a year-on-year basis, however, the 3-year CAGR has been impressive with a high single digit growth of 8% if compared to pre-pandemic levels,” he added.