Dabur net rises 47% at Rs 29.8 crore

Dabur India (DIL) has reported a 47.4 per cent growth in net profit at Rs 29.81 crore for the third quarter ended December 31. The turnover increased 11.5 per cent to Rs 336 crore (Rs 301.5 crore). The company's pharma division was spun off into a separate entity in April last year.

"DIL gained on account of new launches, stronger communication and better fiscal discipline during the quarter. The hair care and oral care categories recorded good growth while the healthcare segment showed considerable growth as a result of superior marketing mix," explained Sunil Duggal, CEO, DIL.

The company also reduced its working capital and repaid loans to the extent of Rs 34 crore which helped reduce interest cost. Some years back, the company had initiated a corporate governance programme and had recast its board by bringing in professional outside of the promoters' family.

In an effort to carry on with the implementation of good corporate governance practices, the company has adopted a whistle blower and protection policy for the employees.

DIL hopes that this would encourage its employees and business associates to report any unethical business practices at the workplace to the senior management without fear of reprisal. "These policies will help the company achieve higher standards of corporate governance across all levels, in line with our ambition to make Dabur the most trusted and professionally managed FMCG company following global best practices on corporate governance in the country," said PD Narang, group director, corporate affairs, DIL.

The board also approved the increase in the sitting fees of non-executive directors from Rs 5000 to Rs 15000 for attending the board meetings, and from Rs 2500 to Rs 15000 for attending the meetings of various committees of the board.