Emami Ltd is happy high over higher sales in Q1

Shares of Emami Ltd, a maker of personal care products, rose to fresh highs after the company announced its quarterly earnings jumped on the back of higher sales.

Emami said its first quarter Net Profit rose 24% to 87.8 crore rupees compared with 70.8 crore rupees in the same quarter a year ago. Sales during April-June rose 22 percent to 590 crore rupees from 481.7 crore rupees in the year ago period.

Emami rose 2.6%, or 35 rupees, to 1,365 rupees, a record high on the National Stock Exchange, where 3.10 lakh shares were traded by 12:35 pm compared with the 5-day average of 2.07 lakh shares.

Emami's market capitalisation has jumped 150% in the past one year to 30,560 crore rupees as investors bought into its acquisitive management and sought the relatively safety and predictability of sales and revenues of FMCG companies.

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