Emami shares jump 4% on price hike

Shares of personal care products maker Emami Ltd rose as much as 4 percent on Friday after the company said it plans to hike product prices by up to 2 percent in the near term,three dealers said.

Results were in line with what we had expected. The company’s margins,just like the entire FMCG sector,have been under pressure.

This quarter Emami’s profit from operations fell by 4 percent,said a senior dealer with a local brokerage. The company,after market hours on Thursday,posted a 38 percent jump in net profit to 545.7 million rupees.

Net sales grew to 3.54 billion rupees from 2.80 billion rupees.