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Dabur India Ltd reported a consolidated net profit of ₹342 crore in the quarter ended June 30, down 5.9 per cent from ₹363 crore in the corresponding quarter in the previous fiscal. Consolidated revenue from operations stood at ₹1,980 crore, down 12.9 per cent due to supply chain disruptions and slowdown in economic activity as the country went into a nationwide lockdown.
Domestic FMCG business saw a decline of 6.9 per cent while domestic volume declined 9.7 per cent during the quarter under review. However, the company said it managed to quickly scale up its operations to reach near normal levels in May and June.
In a statement, Mohit Malhotra, Chief Executive Officer, Dabur India, said, “We were growing at a steady pace when the pandemic brought business to a standstill. Amidst this challenging business environment, we quickly revamped our portfolio to meet the growing consumer need for quality preventive healthcare, personal hygiene and household hygiene products.”
The company said it enhanced production of existing ayurvedic immunity-boosting products and launched new products to meet the evolving demands of consumers. New products launched during the first quarter reported sales of ₹100 crore, it added.
“Dabur has significantly ramped up capacity with production now at near-normal levels and the business poised to deliver growth for the rest of the year,” Malhotra said. He said the company will continue to “capitalise on the emerging tailwinds” to strengthen its position in the ayurvedic healthcare and hygiene products space.
Strong demand for products such as Dabur Chywanprash and Dabur Honey, helped the company’s health supplements business register a growth of 53 per cent during Q1.The OTC Healthcare business grew 34 per cent, while the Ayurvedic Ethicals business was up 11 per cent. The company’s toothpaste business grew 3 per cent.
The company said it witnessed a nearly seven-fold growth in demand for Dabur Chyawanprash and an over 60 per cent increase in demand for Dabur Honey during the quarter. It continued to gain market share across all categories in the first quarter.
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