 "Dabur Q4 FY24 results: Net profit rises 16% to Rs 350 crore, revenue up 5%")
Homegrown fast-moving consumer goods (FMCG) major Dabur India Ltd on Thursday reported a consolidated net profit of Rs 349.53 crore for the quarter that ended on March 31 in the financial year 2023-24 (Q4 FY24). This was a 16.2 per cent increase from Rs 300.83 crore reported during the same period last year. Sequentially, however, profit dropped 32 per cent from Rs 514.22 crore in Q3.
The company reported a 5.1 per cent increase in revenue from operations at Rs 2,814.64 crore, compared to Rs 2,677.8 crore reported during the year-ago period. Sequentially, revenue from operations fell 13.5 per cent from Rs 3,255.06 crore in Q3.
Dabur India FMCG Business posted a volume growth of 5.5 per cent for the full year, the company said in an exchange filing.
For the entire financial year 2023-24, the FMCG firm reported a net profit of Rs 1,842.68 crore, up 7.9 per cent from Rs 1,707.15 crore in FY23.
Revenue from operations increased 7.6 per cent year-on-year at Rs 12,404.01 crore from Rs 11,529.89 crore.
The quarter also saw Dabur's oral care business grow by 22 per cent with the the toothpaste business reporting a 23 per cent jump.
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Meanwhile, the company's digestive business ended the quarter with a 16 per cent increase. The company saw a strong performance in its mosquito repellent, which grew 7.5 per cent in Q4. Dabur's food business, including Badshah, grew by 20.6 per cent and the shampoo portfolio reported a six per cent rise during the quarter.
International business reported a constant currency growth of 12 per cent in the fourth quarter and 16.4 per cent for the entire financial year.
Commenting on the results, Chief Executive Officer Mohit Malhotra said, "We've ended the year with a steady performance, underscoring the power of the Dabur's brands. We have been investing heavily behind our brands, which increased by 33 per cent, to drive demand and also sustain the growth momentum. This has helped us deliver steady sales and profit growth in the fourth quarter despite multiple headwinds. We continued to execute on our strategic playbook by driving operational excellence, delivering innovative and premium products, and expanding our retail footprint to build the foundation for long-term profitable, sustainable growth^
The board of Dabur has recommended a final dividend Rs 2.75 per equity share for the financial year 2023-24.
Shares of the company were trading at Rs 520.8 on the BSE at 2:45 pm after the company released its Q4 FY24 results.