New Delhi: Dabur India Ltd said on Thursday its quarterly consolidated net profit fell 6.5% from a year earlier to ₹371.5 crore mainly due to an exceptional charge incurred by its unit in Turkey,
The consumer goods firm posted a 4.7% rise in consolidated revenue for the quarter ended 31 March to ₹2,128.19 crore, from ₹2,032.91 crore a year earlier.
A prolonged winter in northern India and a slowdown, particularly in the rural market, impacted revenue in the fourth quarter. “The gradual recovery of the domestic market was temporarily impacted by adverse liquidity conditions and the agrarian crisis, particularly towards the end of the financial year," Mohit Malhotra, chief executive of Dabur India, said in a statement.
Profit in the fourth quarter was hit by the exceptional charge on account of impairment of goodwill at Dabur India’s wholly-owned unit, Hobi Kozmetik in Turkey due to currency devaluation. This pertained to the consumer care segment business of the company, Dabur India said in a regulatory filing. On a stand-alone basis, the firm reported a 17% rise in net profit to ₹414.3 crore in the March quarter.
Volumes in the company’s foods business (that comprises largely of Real juices) fell 6.5% during the quarter. Across other segments, though, Dabur India reported healthy double-digit growth.