Even as PSBs have been under spotlight due to mounting losses and spike in bad loans, their private sector peers too have seen a deterioration in credit quality and consequent fall in profits.
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The Kolkata-based company had reported a net profit of Rs 86.61 crore in the April-June quarter of last fiscal, Emami said in a BSE filing.
The board has also recommended a final dividend of Re 1 per equity share, which, together with the interim dividend of Re 0.65 paid earlier, makes a total dividend of Rs 1.65 or 165% per equity share of Re 1 each, it added.
On standalone basis, the company’s net profit stood at Rs 114.23 crore, witnessing growth of 37.18% yoy and 20.14% qoq.
The company had an exceptional item of Rs 96.88 crore on account of voluntary retirement scheme offered to its employees.
Berger Paints India Ltd.’s net profit rose 54 percent crore in the first quarter of financial year 2016-17 on a year-on-year basis. Its other operating income declined to Rs. 71 crore from Rs. 116 crore and other income to Rs. 15 crore from Rs. 24 crore.
Emami stock was trading up by 2.03 per cent at Rs 1,163 on the BSE.
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Total income (standalone) in the first quarter of current fiscal registered a growth of 9.6 per cent to Rs 1,160.40 crore from Rs 1,058.70 crore in the same period of previous fiscal.
