New Delhi: Dabur India Ltd reported an 11.8% growth in first quarter profit on higher sales of packaged goods. Net profit rose to Rs.292.8 crore for the quarter ended 30 June from Rs.261.8 crore in the year-ago quarter, the Delhi-based company said.
Sales grew just 1.2% during the April-June quarter to Rs.1,923.9 crore from Rs.1,901.7 crore in the year-ago period,
“We had to deal with a tough economic environment characterised by demand slowdown, intensifying competitive pressures and deteriorating geopolitical situation in select geographies like the Middle East and Africa. Despite these challenging conditions, Dabur remains on a steady course and has reported profitable growth,” Sunil Duggal, chief executive of Dabur India, said in a statement.
The company said its oral care business grew by about 12% during the quarter backed by strong demand for both toothpastes and toothpowders. Dabur’s Foods business grew by over 4%, and home care business had a 2% growth. The company’s international business had about 6% growth, led by Nepal, Egypt and Turkey, Dabur said in its statement.
The company is investing Rs.500 crore in the current fiscal year to boost its manufacturing capacity by adding new plants in India and abroad, it said in a statement.