Emami is having a field day at Dalal Street as the shares of the consumer care products company have zoomed beyond 15 per cent in the intraday trade on Thursday, May 30. These developments came to pass after the company released its quarterly results for Q4, along with financial results for the whole of FY24.
The company shares surged 15.68 per cent, taking the price of each individual share to Rs 606.00 (12:44 IST). The share price hit the lifetime high mark of Rs 616.20 at 11:00 IST.
A 15% Jump In Company Profits
The Kolkata-based giant, known for its winter cream along with other products, posted a profit after tax of Rs 724.1 crore in the recently concluded financial year or FY24, compared to Rs 627.4 crore.
This meant a surge of 15.4 per cent in the profit generated by the company after tax.
When we look at the company's number for the final quarter for FY24, the numbers rose in this instance as well, but, the growth was not as significant as its yearly numbers. The profit after tax posted by Emami for the final quarter of the year stood at Rs 146.8 crore for Q4, compared to Rs 141.6 crore for Q3. This meant a 3 per cent rise in the numbers.
In addition, the company's liabilities also rose to Rs 758.8 crore, from its previous Rs 723.9 crore. The company's assets also grew in the past year, as total assets jumped from Rs 3,109.9 crore to Rs 3,279.7 crore.
The Kolkata-based giant, known for its winter cream along with other products, posted a profit after tax of Rs 724.1 crore in the recently concluded financial year or FY24, compared to Rs 627.4 crore. |
Emami Shares Jump
The overall picture of the market does not appear to be encouraging at the halfway mark. After a blockbuster beginning to trading week, wherein the indices touched lifetime highs, the BSE Sensex was trading at a deficit of 0.50 per cent or 371.93 points, with its number reaching 74,130.97 at 13:12 IST.
Meanwhile, NSE Nifty also observed a decline in its numbers, as the it slumped 0.57 per cent or 130.35 points, to drop to 22,574.35. Nifty Bank however was travelling in a different direction, as the numbers for this index were in green with a 0.72 per cent or 348.90 points increase, to take the total tally to 48,850.25.
