Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Dabur Q3 net profit up 22% on robust sales

Feb 07 2013, 14:51 IST
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Dabur Q3 net profit up 22% on robust sales Dabur Q3 net profit up 22% on robust sales
SummaryMCG major posted robust sales across categories, including hair oil and skin care.

FMCG major Dabur India today posted 22.15 per cent jump in consolidated net profit at Rs 211.11 crore in the October-December quarter this fiscal on the back of robust sales across categories, including hair oil and skin care.

The company had posted a net profit of Rs 172.82 crore during the same period a year ago.

Net sales of the company rose to Rs 1,630.72 crore during the third quarter, from Rs 1,452.68 crore during the same period of 2011-12, Dabur India said in a statement.

Shares of the company, however, fell by over 1 per cent on the National Stock Exchange, whose wider index Nifty dropped by nearly 25 points or 0.41 per cent.

Despite a challenging macro-economic environment, Dabur India Ltd reported strong volume-driven growth across all its key categories like hair oils, shampoo, foods, skin care and home care, it added.

"We have delivered another quarter of strong volume-led growth with an improvement in margins. Dabur has been reporting strong and consistent performance despite inflation playing truant and competitive pressures intensifying in some key categories," Dabur India Chief Executive Officer Sunil Duggal said.

He added that demand from the hinterland has been growing at a much faster pace and has more than made up for the slight moderation in demand from its urban counterparts.

"Dabur has made higher investment behind its brands during this quarter, which will reap dividend and help us drive demand for our products in months to come," Duggal said.

During the period under review, the company said its shampoo business grew by 29.6 per cent over the same period of previous fiscal.

The company said its home care category grew by 30.5 per cent over the same period of previous fiscal riding on sustained demand for Odomos mosquito repellent products.

"Dabur's foods business reported a robust over 22 per cent growth. The skin care category reported a 15.7 per cent growth during the quarter while the oral care business reported a 13.6 per cent growth," the company said.

The company said its international business continues to report good growth, led by strong performance in Gulf Cooperation Council (GCC) and Egypt.

"The Levant business, which comprises Jordan, Lebanon and other neighbouring markets, reported a 36 per cent growth, while sales in GCC markets grew by 22 per cent. Egypt too reported a 15 per cent growth," Dabur India Group Director P D Narang said.

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