Emami at record high on healthy Q2 earnings

Q2 consolidated net profit grew 17% at Rs 59 crore on year-on-year basis, on the back of robust sales of various brands, including Boroplus and Zandu.

Emami Limited is trading higher by 4% at Rs 598 after reporting 17% year-on-year (yoy) jump in its consolidated net profit at Rs 59 crore for the quarter ended September 2012, on the back of robust sales of various brands, including Boroplus and Zandu.

“Net sales of the company grew 18% at Rs 361 crore for the second quarter over the previous year,” Emami, the fast moving consumer goods company said in a statement. The net sales growth during the quarter was highest in past four quarters.

Commenting on the results Emami CEO (Finance, Strategy & Business Development) Naresh H Bhansali said, “the company's gross margins improved despite steep inflation in some of the key ingredients due to judicial price hikes and effective cost control measures.”

The stock opened at Rs 575 and hit a record high of Rs 605 on the NSE. A combined 114,481 shares have changed hands on the counter so far on both the exchanges.