Dabur’s consolidated Q1 net profit surges 24%

NEW DELHI: Homegrown FMCG company Dabur India on Wednesday reported a 24 per cent jump in consolidated net profit for the quarter through June and said it was confident of growing faster than the market.

For the fiscal first quarter, the company posted a net profit of Rs 261.1 crore, compared with Rs 210.8 crore a year earlier. Consolidated net sales rose nearly 11 per cent to Rs 2,064.1 crore.

"Going forward, we will focus on our cost efficiencies and pursue an aggressive and profitable growth strategy," Chief Executive Sunil Duggal said. "We continue to strengthen our business for the long term by driving innovation and investing behind our brands. With these initiatives, we are confident of growing ahead of the market and improving our market share."

Its toothpaste business ended the first quarter with a near 24 per cent increase in revenue, while the OTC & Ethicals business and the food categories expanded 16.7 per cent and 15.5 per cent, respectively. The hair oil category reported 13 per cent growth, shampoo business 11.5 per cent and home care, nearly 12 per cent.

Dabur’s international business reported steady growth, led by Turkey, Nepal and the Gulf markets. "Despite disruptions in some overseas geographies, we are managing our business dynamically to ensure that we remain competitive and cost efficient. Our Turkey business grew by over 22 per cent, while sales in Nepal grew by over 14 per cent and GCC markets by 10 per cent," said group Director PD Narang.