Companies

Dabur Q1 net falls 6 per cent to ₹341 cr

PTI New Delhi | Updated on July 30, 2020

A Dabur India product   -  Bloomberg

Homegrown FMCG major Dabur India Ltd on Thursday reported a 6.18 per cent decline in its consolidated net profit at ₹341.30 crore for the quarter ended June 30, 2020, due lower revenue from operations.

It had posted a net profit of ₹363.81 crore in the April-June period of the last fiscal.

The revenue from operations for the quarter was down 12.90 per cent to ₹1,979.98 crore, as against ₹2,273.29 crore in the corresponding quarter of the previous fiscal,.

“We entered this crisis from a position of strength. We were growing at a steady pace when the Covid pandemic brought business to a standstill. Amidst this challenging business environment, we quickly revamped our portfolio to meet the growing consumer need for quality...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,” said Dabur India CEO Mohit Malhotra.

Dabur said during the quarter the company introduced a record number of new products and variants anchored on the consumer need for health, immunity and hygiene.

“The quarter saw our new products record sales of over ₹100 crore,” the company said.

“We will continue to invest behind our power brands, many of which are in the healthcare space, to drive business growth. Going forward, we will also capitalise on the emerging tailwinds and our distribution might to further strengthen our position as a frontrunner in the Ayurvedic Healthcare and Hygiene products markets,” Malhotra added.

Shares of Dabur India Ltd ended 0.90% higher at ₹494.00 on the BSE.

Published on July 30, 2020

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