Kolkata-based FMCG Emami had posted a 38.4 percent increase in its consolidated net profit of Rs 54.56 crore for the quarter ended March 31, 2011 as against the same period in the previous fiscal. The company attributed the strong growth across all categories particularly from good sales coming from its power brands like ‘Navratna Oil’, ‘Zandu Balm’ and ‘Boroplus’ antiseptic cream among others.
Besides, the firm’s Board of Directors has proposed a 350 percent dividend of Rs 3.50 per share to its shareholders.
“While development of new products and new markets continues, thrust is being put on increasing distribution and penetration in existing markets and to develop global brands,” company said in a statement. On a standalone basis, the firm’s net profit for the quarter ended March 31, 2011 was at Rs 51.64 crore as against Rs 40.16 crore posted last year. During the quarter, its income from operations stood at Rs 330.80 crore.
During the financial year, the company said it has also floated a 100 percent owned subsidiary, Emami Overseas FZE at Dubai. The firm acquired 90.6 percent shares of Pharma Derm S. A. E. Co., Egypt with a manufacturing facility at Borg Al Arab, near Alexandria in Egypt. Shares of Emami closed at Rs 434 on the Bombay Stock Exchange, up 2.50 percent from the previous close.
Source: www.thehindubusinessline.com
