Dabur India has reported a growth of more than 25 per cent in standalone net profit of Rs 70 crore for the first quarter ending June 30, 2008, as compared to the same period in the previous fiscal.
Net sales were up close to 13 per cent to Rs 524.17 crore during the period. The company has credited the growth, in the face of escalating production costs, to a turnaround in its consumer health division and aggressive cost-saving initiatives.
“We continued to sustain the growth momentum in key categories like hair care and health supplements, despite growing cost pressures. While high inflation is a cause of concern, we have not yet seen any significant impact on consumer spending,” said Sunil Duggal, CEO, Dabur India.
The company’s international business grew at 39.5 per cent, with strong performances from Egypt, Gulf Cooperation Council (GCC) and African markets.
“Sales in GCC region increased by 52 per cent, led by higher pricing power and increased consumer offtake. Sales in the African markets more than doubled during the quarter, led by strong growth in Nigeria. We have built strong capabilities to tap emerging opportunities in these markets,” said Anand Burman, chairman, Dabur India.