Dabur profit up 24%

Dabur India, the country's largest ayurvedic products company, posted a 24 per cent increase in net profit to Rs 262 crore versus Rs 211 crore a year ago, in line with Street estimates. Net sales increased 11 per cent to Rs 2,064 crore from Rs 1,864 crore a year ago, led by 8.6 per cent underlying volume growth.

Bloomberg consensus estimates had pegged net sales and net profit of Dabur at Rs 2,067 crore and Rs 255 crore, respectively. The company was helped by lower crude oil prices, reporting a decline in material costs by 6.4 per cent over last year. Operating profit level growth seen was 20 per cent driven by cost efficiencies, Ritwik Rai, vice-president, research, Kotak Securities said. Dabur's key consumer care segment, which makes up 80 per cent of its business, grew 9.3 per cent to Rs 1,662 crore from Rs 1,521 crore last year.