New Delhi: Dabur India Ltd on Monday reported a marginal Rs 2 crore increase in consolidated net profit in the quarter ended 31 March 2017 with sales dipping 4.8% during the period as businesses in some of the international markets were hit.
On a standalone basis, Dabur reported a 5.3% increase in net profit to Rs 302 crore as sales remained flat at Rs 1,432 crore during the quarter under review despite a 2.4% growth in volume of its packaged consumer goods business.
The New Delhi based consumer packaged goods company’s consolidated net sales declined to Rs 1,909 crore for the quarter ended 31 March 2017 from Rs 2,006 crore in the year-ago quarter while consolidated net profit increased to Rs 333 crore from Rs 331 Crore a year ago.
“The business faced tough economic environment characterized by extreme volatility in currency, particularly in Egypt and North African markets, as well as crude-led economic turmoil in Saudi Arabia. In constant currency terms, consolidated net sales remained flat for the fourth quarter. Demand growth, still reeling under the impact of demonetization, remained slow at the beginning of the quarter. However, it improved as the quarter progressed, led by a significant improvement in rural demand,” Dabur India chief executive officer Sunil Duggal said in a statement.
For the full year ended 31 March 2017, Dabur India’s sales dipped 2.1% to Rs 7,680 crore as compared with Rs 7,851 crore reported during the previous year. Net profit for the year increased 2.07% to Rs 1,277 crore against Rs 1,251 crore the previous year.
“We have taken steps to efficiently manage the emerging risks and challenges, and record profitable growth. The new fiscal will see Dabur strengthen its presence across key categories, leveraging our strong herbal and ayurvedic heritage,” Duggal said