Dabur Q3 net profit up 22% on robust sales
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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