Dabur India: Q3 net profit up 15.7% to Rs 243.6 Crore
The Board of Directors of Dabur India Ltd (DIL) met to consider the unaudited financial results of the company for the quarter and Nine-month period ended December 31, 2013.
Dabur delivered another robust operating performance during the third quarter of 2013-14 despite a challenging business environment where macro-economic headwinds dampened consumer confidence and moderated consumption spending. Riding on strong volume-driven growth across its key categories of Health Supplements, Air Care, Hair Care, Oral Care, Skin Care and Foods, Dabur India Ltd reported a 16.8% growth in Consolidated Net Sales during the quarter to Rs 1,904.3 Crore. Consolidated Net sales stood at Rs 1,630.7 Crore in the same quarter last year. The Company ended the third quarter with a 15.7% rise in consolidated Net Profit to Rs 243.6 Crore, up from Rs 210.5 Crore a year earlier. Dabur ended Q3 of 2013-14 with a 14.5% growth in EBITDA.
“We have delivered another quarter of strong volume-led growth. Dabur has been reporting strong and consistent performance despite intensifying competitive pressures and the challenging market environment being witnessed for some quarters now. Our focus on brand-building and market expansion programs coupled with a greater degree of innovation has helped Dabur sustain strong growth in the core categories, which have been significantly ahead of the market. Going forward, our focus will be on pursuing an aggressive and profitable growth strategy,” Dabur India Ltd Chief Executive Officer Sunil Duggal said.
The Health Supplements business for Dabur was a key driver of growth during the quarter, reporting a strong 19.5% surge. The Air Freshener business for Dabur, under the brand Odonil, continued to surge ahead with an over 27% growth during the quarter. Dabur’s Foods business also reported a robust near 18% growth. The Shampoo business for Dabur ended the third quarter of 2013-14 fiscal with a strong 24.7% growth. The Toothpaste business grew by over 14% while the Skin Care category reported an over 13% growth during the quarter.
The quarter saw Dabur introduce a host of new products and variants, including the new Fem Fairness Naturals facial bleach range and Vatika Hibiscus hair care range.
Dabur’s International Business ended the Quarter with a 26% growth, led by strong performance in GCC, Egypt and Nigeria. “The GCC business reported a 21% growth, while sales in Egypt and Nigeria both grew by 16%. Going forward, we will continue to pursue an aggressive growth strategy,” Dabur India Ltd Group Director Mr. P D Narang said.