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Dabur India's net profit for the second quarter of the current fiscal stood at Rs 173.86 crore helped by strong growth in key business areas, calibrated price hikes and stringent cost-saving initiatives.
According to the company, the financial results for the quarter are not comparable with the corresponding period as it includes Hobi Kozmetik group and Namsate Laboratories along with Hair Rejuvenation & Revitalisation Nigeria, which the company had acquired. The results also include numbers of Healing Hair Laboratories International LLC and Urban Laboratories International LLC, which have been incorporated abroad and acquired subsequent to corresponding quarter of the previous year, it said.
The net profit for the corresponding period last year was Rs 160.35 crore.
Dabur's consolidated net sales for the second quarter of the current fiscal stood at Rs 1,262.33 crore as against Rs 972.78 cr posted in the corresponding period of last fiscal.
"The operating environment was extremely challenging and it impacted our margins during the period. Despite that, effective management of costs helped Dabur expand its EBITDA by 16.5 per cent. Going forward, we will strive to continue to remain competitive and cost efficient, and deliver profitable growth," said Mr Sunil Duggal, Chief Executive Officer, Dabur India Ltd.
The Dabur Board also declared an interim dividend of 55 per cent for 2011-12. "Continuing with our payout policy, the Board has declared an interim dividend of Re 0.55 per share, aggregating to a total payout of Rs 111 crore," said Dr. Anand Burman, Chairman, Dabur India Ltd.
During the quarter the company's hair oil category reported a 26.6 per cent growth led by Dabur Amla, foods business registered a 27.5 per cent growth during the quarter. Toothpaste category and health supplements saw a growth of 7.8 per cent each.
The company's international business reported a growth of 22.8 per cent through the organic route, led by robust performance in GCC, Egypt and Nigeria.
The Dabur India stock closed at Rs 101 on Monday, up 0.85% at BSE over the previous close.
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