Friday, January 29, 2016

Dabur India net up 13%

Dabur India has posted a consolidated net profit of Rs.318.5 crore — up 12.6 per cent — for the third quarter ended December, against Rs.282.8 crore in the corresponding period of the previous fiscal year.

Consolidated net sales grew 2.4 per cent to Rs.2,122.4 crore for the third quarter.

In a statement, Dabur India CEO Sunil Duggal said that the macroeconomic environment continues to be challenging and that the company faced geo-political disturbances in key geographies in West Asia and a delayed winter in India.

“The ongoing political unrest in Nepal and the blockade of the India-Nepal border severely impacted Dabur’s foods business. However, we have taken steps to mitigate the impact by ramping up the production of juices in Sri Lanka and India to cater to our demand requirement, and are hopeful of reporting normal growth going forward,” he added. He said the overall demand environment remained tepid in the third quarter with some key segments showing a deceleration, while competitive intensity was at a high.

“We are pursuing a prudent growth strategy and have taken steps to efficiently manage the emerging risks and challenges. Despite a sharp fall in growth rates in most consumer product segments, Dabur continues to focus on brand-building and market expansion programmes that will pave the ground for future growth,” said Duggal.

The company saw growth in categories such as toothpaste, skin care, home care business and OTC.

“The international business division for Dabur reported a 14.8 per cent growth during the third quarter of 2015-16,” the company said, adding that this growth was led by markets such as Bangladesh, Turkey and the GCC region.

The US-based Namaste Laboratories posted strong double-digit growth with both the US and non-US businesses performing well, the company added.

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