Dabur India Q1 profit rises 25%

Dabur India said that the company’s domestic FMCG business recorded the highest-ever volume growth on the back of strong gains across key product categories in the first quarter of this fiscal year.

The company’s consolidated net profit grew by 24.6 per cent to ₹330 crore in the quarter ended June 30 from ₹264.86 crore in the corresponding quarter in the previous fiscal.

Consolidated revenue stood at ₹2080.70 crore.

The company said that the comparable consolidated revenue (comparable constant currency growth adjusted for GST and currency impact) for the first quarter grew by 19.6 per cent.

In a statement, Sunil Duggal, CEO, said that despite an increase in competitive intensity all the brands of the company reported a robust performance during the quarter and delivered strong double-digit growth across all the key categories.

“We have put in place a prudent growth strategy and continued to invest heavily behind our brands to tap the emerging opportunities. Our India FMCG business, in fact, reported it’s highest-ever volume growth of 21 per cent during the quarter,” he added.

While shampoo business grew by over 30 per cent, Dabur’s Honey sales were up 42 per cent.

Overall health supplements business grew by 27.5 per cent in the first quarter. Skin care business grew by 27 per cent, while food business driven by demand for packaged juices posted over 26 per cent growth in the quarter under review. While the digestives business was up 22 per cent, the company’s home care and oral care businesses reported an over 17 per cent growth.

“We have been witnessing a gradual improvement in consumer demand. Our focus on brand-building and market expansion coupled with innovation have helped Dabur sustain strong growth in our core categories, which has been significantly ahead of the market,” Duggal added.

During the quarter, Dabur’s international business reported a 10.5 per cent growth, in constant currency terms.

“Sales in GCC markets grew 17 per cent led by Saudi Arabia which reported a 54 per cent growth during the quarter. The business in Egypt reported 31 per cent gains,” the company added.

On Tuesday, the company’s share price closed at ₹420.25, up 6.96 per cent on the BSE.

Source:-https://www.thehindubusinessline.com/news/dabur-india-q1-profit-rises-25/article24565840.ece

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