Homegrown FMCG major Dabur India Ltd on Thursday reported a 8.62 percent increase in consolidated net profit at Rs 398.87 crore for the third quarter ended December. The company had posted a consolidated net profit of Rs 367.21 crore in October-December quarter a year ago, Dabur India said in a BSE filing.
Revenue from operations rose 6.99 percent to Rs 2,352.97 crore during the quarter under review as against Rs 2,199.21 crore in the corresponding quarter of the previous fiscal.
Total expenses during October-December rose 6.03 percent to Rs 1,924.94 crore as against Rs 1,815.41 crore.
Dabur’s domestic FMCG business reported an underlying volume growth of 5.6 percent during the quarter, the company said in a statement.
Commenting on the results, Mohit Malhotra, CEO, Dabur India said, “While the global macroeconomic environment continues to be challenging and competitive intensity remains high, we have successfully tapped the growth opportunities to deliver a strong performance during the quarter.”
“Our focus on strengthening our core healthcare portfolio with heavy investments behind our power brands, coupled with investment in expanding our rural footprint and enhancing our go-to-market approach, continues to serve us well. This has enabled us to grow ahead of categories and gain market share across our portfolio,” he said in the statement.
The company’s revenue from consumer care business segment rose 7.83 percent to Rs 2,061.36 crore as against Rs 1,911.56 crore in the year-ago period.
Food business revenue increased 1 per cent to Rs 228.87 crore as compared with Rs 226.60 crore in the year-ago period.
Revenue from retail business increased 1.13 percent to Rs 34.63 crore from Rs 34.24 crore in the corresponding period of previous year.
Revenue from other segments rose 1.16 percent to Rs 21.67 crore as against Rs 21.42 crore.
Dabur’s international business grew 11.7 percent during the third quarter of 2019-20, led by strong local currency growth in key markets like Middle East and North Africa (MENA), Egypt, Nigeria, Turkey and Nepal, the statement said.
“The Turkey business grew by over 32 percent, while Nepal reported a nearly 21 percent growth during the quarter. The MENA business posted a growth of over 10 percent, while Egypt grew by 17 percent and Nigeria by over 17 percent,” it said.