Homegrown firm Dabur India today reported 13 per cent rise in consolidated net profit at Rs 333.05 crore for the third quarter ended December 31, led by strong performance of the domestic FMCG business. The company had posted a net profit of Rs 294.67 crore in October-December of the last fiscal, Dabur India said in a BSE filing.
Total income for the quarter under review was at Rs 2,032.78 crore, as against Rs 1,935.97 crore in the corresponding quarter a year ago. “While the global macroeconomic environment continues to be challenging and competitive intensity remains high, we have delivered a strong performance during the quarter by efficiently managing the risks and challenges,” CEO Sunil Duggal said.
Total expenses of the company were at Rs 1,616.63 crore, as against Rs 1,566.23 crore, up 3.21 per cent. Revenue from consumer care business was up 8.59 per cent to Rs 1,696.86 crore in the December quarter as against Rs 1,562.52 crore in the year-ago period. However, revenue from food business was down 3.83 per cent to Rs 210.69 crore as against Rs 219.10 crore. The retail business was also down 9.70 per cent to Rs 32.09 crore as against Rs 35.54 crore. Dabur’s international markets also reported growth.
“In local currency terms, Dabur’s business in Egypt grew 46 per cent. Sales in GCC rose 20 per cent, led by Saudi Arabia which reported 34 per cent growth during the quarter. The sub-Saharan Africa region reported 24 per cent growth in local currency,” the company said in a statement. On the outlook, Duggal said: “The medium to long-term prospects, particularly for India, remain robust and we are confident that domestic consumer demand, led by a revival in rural markets, will gain pace in months to come.” Shares of Dabur India were trading at Rs 353 on BSE ,down 1.55 per cent from the previous close.