Dabur India Ltd today reported 23.40 per cent increase in consolidated net profit at Rs 249.74 crore for the second quarter ended September 30, 2013-14, on account of strong performance in the FMCG segment.
The company reported net profit of Rs 202.37 crore in the corresponding quarter of last fiscal, 2012-13.
Dabur's Q2, 2013-14 net sales went up by 14.85 per cent to Rs 1,748.81 crore, compared to Rs 1,522.6 crore in the year-ago period.
Dabur's consumer care business increased by 18.33 per cent at Rs 1,495.49 crore, while foods business grew by 15.71 per cent to Rs 203.39 crore.
"Strong demand from the hinterland following the mega initiative to double our rural distribution footprint helped Dabur India Ltd sail through a challenging business environment and moderation in consumption expenditure," the company said in a statement.
Retail business was up 17.36 per cent at Rs 16.56 crore while other businesses declined by 51 per cent to Rs 33.37 crore.
Dabur India CEO Sunil Duggal said: "The rising cost pressures were managed through a mix of judicious price increases and improved buying efficiencies. We are seeing demand from rural India out pacing the urban markets."
On the overall expenses front, Dabur reported 12.55 per cent jump at Rs 1,448.56 crore in the quarter ended September 30 this year as against Rs 1,286.95 crore in corresponding quarter last year.
International business ended the second quarter with 25.8 per cent growth, led by Middle East & North Africa (MENA) markets and Bangladesh.
Dabur shares were trading at Rs 178.40 on the BSE in the afternoon trade, down 2.27 per cent.