 "Dabur India Q3 net down 7.5% to Rs 293.76 crore")
Homegrown FMCG major Dabur India on Tuesday reported a decline of 7.5 per cent in consolidated net profit at Rs 293.76 crore for the third quarter ended December 31, 2016 on demonetisation and currency fluctuations woes.
The company had posted a net profit of Rs 317.58 crore in October-December period of last financial year, Dabur India said in a statement.
Net sales was also down 6.08 per cent during the period under review to Rs 1,847.67 crore as against Rs 1,967.48 crore of the corresponding quarter of the previous financial year.
"The quarter ended December 31, 2016 was marked by a demonetisation-led liquidity squeeze that further impacted the already soft consumer demand across key FMCG categories. This coupled with the global headwinds in the form of currency fluctuations and rising cost of key inputs led to Dabur ending the third quarter of 2016-17 financial year with consolidated net sales of Rs 1,847.7 crore," Dabur said in the statement.
Total expenses of the company was at Rs 1,552.29 crore, down 4.55 per cent from Rs 1,626.37 crore of the corresponding quarter.
"Dabur's packaged Fruit Juices & Beverages brands saw an over 5 per cent gain in market share in Q3 of 2016-17, while the Mosquito Repellent brand Odomos saw its market share grow by over 4 per cent in the mosquito repellent creams and lotions category," said Dabur India CEO Sunil Duggal.
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He further added: "Dabur's Toothpaste portfolio also gained around 0.7 per cent share during the quarter. It's shampoo and hair oil businesses too gained share during the quarter."
Dabur's revenue from consumer care business was down 11.19 per cent to Rs 1,562.52 crore in Q3 of FY 2016-17 as against Rs 1,759.44 crore of the corresponding quarter.
While revenue from food business was at Rs 219.10 crore, up 52.82 per cent and Rs 35.54 crore in retail business, up 13.18 per cent, as against Rs 143.37 crore and Rs 31.40 crore respectively.
Shares of Dabur India were trading at Rs 276 on BSE post afternoon, down 1.45 per cent from previous close.