 "Dabur net up 5% in Sept quarter")
Dabur India, the fast moving consumer goods (FMCG) major, has reported Rs 357 crore net profit for the quarter ended September, five per cent higher than the Rs 340 crore in the same period a year before.
Net sales growth was Rs 1,976 crore, one per cent higher than the Rs 1,955 crore a year before.
There was a slight fall in revenue, attributed to a change in the accounting rules (IGAAP to IND-AS) and turmoil in West Asia/North Africa. "The overall business environment continued to be challenging with consumer demand remaining slack in India, while overseas geographies like the Middle East and Africa were hit by a worsening geopolitical situation," said Sunil Duggal, chief executive officer.
Operating profit grew 1.1 per cent. A 60 per cent increase in non-operating income pulled up earnings before interest, tax, depreciation and amortisation by 8.2 per cent to Rs 498 crore.
The consumer care segment, largest contributor to revenue, grew marginally to Rs 1,648 crore. Foods, the second largest segment, expanded 9.4 per cent to Rs 269.7 crore.
Dabur's India business fared better. Net profit increased 17.7 per cent to Rs 268.7 crore. Standalone net sales went up 2.3 per cent to Rs 1,348 crore, with 4.5 per cent volume growth in the FMCG business.
"We continue to invest behind our brands and are confident of our ability to report profitable growth. Even in a tough environment, we have navigated the external business environment well. We have lined up a flurry of many exciting initiatives and are committed to aggressively launch new products, leveraging on our ayurvedic heritage and cutting-edge science," said Duggal.