BackDabur India Q3 net profit jumps 24% to ₹494 cr
Consolidated revenue from operations increased 16% to ₹2,729 crCompany appoints Ankush Jain as new CFO
PremiumFMCG and Ayurvedic products maker Dabur India on Friday reported 24% rise in consolidated net profit at ₹494 crore for the quarter ending 31 December, 2020. It was ₹399 crore in the year-ago period.
Consolidated revenue from operations increased 16% to ₹2,729 crore from ₹2,353 crore in December 2019.
According to the company, this is the highest-ever quarterly revenue and profits.
"The benefits from its distribution footprint enhancement initiatives, coupled with strong innovation to meet the emerging consumer needs, helped Dabur end the third quarter of 2020-21 with its highest-ever quarterly revenue and profits," said Dabur India in an earning statement.
Total expenses in the quarter under review were at ₹2,218.68 crore, up 15.25 per cent as against ₹1,924.94 crore in the year-ago period.
"With the COVID fears receding and mobility improving, we have reported a stellar performance during the quarter with strong revenue and profit growth. Riding on our strategic business transformation exercise aimed at developing aggressive growth engines in the core business areas, our domestic healthcare vertical ended the quarter with a 28 per cent growth," Dabur India CEO Mohit Malhotra said.
The company also announced the appointment of Ankush Jain as CFO after Lalit Malik tendered his resignation.
The company has also witnessed a revival in discretionary spending by consumers, which helped the Home & Personal care business grow by 16 per cent.
"Our focus on strengthening our core healthcare portfolio with heavy investments behind our power brands, coupled with investment in expanding our rural footprint and enhancing our go-to-market approach, continues to serve us well. This has enabled us to grow ahead of categories and gain market share across our portfolio," Malhotra added.
Dabur's revenue from consumer care business segment was up 18.47 per cent to ₹2,442.18 crore as against ₹2,061.36 crore in the year-ago period.
The food business was also higher at ₹236.45 crore as compared with ₹228.87 crore earlier.
Revenue from the retail business was down 38.69 per cent to ₹21.23 crore from ₹34.63 crore in the year-ago period.
Dabur's revenue from other segments was higher at ₹23.60 crore as against ₹21.67 crore earlier.
International business staged a smart recovery and reported a growth of 13.5 per cent in rupee terms and 14.1 per cent in Constant Currency terms, it said.
"The Turkey business grew by 33 per cent, while the SAARC business was up 16 per cent. The MENA (Middle East and North Africa) business posted a growth of 11.6 per cent, while Egypt grew by 9.5 per cent and the Namaste business in the US reported a 9 per cent growth," it added.
Shares of Dabur India closed at ₹515.25 apiece, down 2.34 per cent on BSE.
With PTI inputs
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