Dabur Q1 FY19 net surges 24.6%; FMCG biz reports 21% volume growth
Riding on sustained gains across its key business categories and geographies, Dabur India Ltd opened the financial year 2018-19 on a strong note as the comparable consolidated revenue for the first quarter grew by 19.6 per cent. Consolidated net profit for Q1 of FY2018-19 marked a 24.6 per cent growth.
Dabur India reported a consolidated revenue of Rs 2,080.70 crore, while net profit for the first quarter stood at Rs 329.22 crore.
Dabur’s comparable standalone India revenue for the quarter grew by 24.7 per cent. The company reported standalone India revenues of Rs 1,473.1 crore in Q1 of FY2018-19. The domestic FMCG business reported a volume growth of 21 per cent during the quarter.
Commenting on the FMCG major’s performance, Sunil Duggal, Chief Executive Officer, Dabur India Ltd, said, “Despite an increase in the level of competitive intensity, our brands reported a robust performance during the quarter, growing ahead of the market and delivering strong double-digit growth across all our key categories like Health Supplements, Hair Care, Oral Care, Skin Care, Home Care and Foods. We have put in place a prudent growth strategy and continued to invest heavily behind our brands to successfully tap the emerging opportunities. Our India FMCG business, in fact, reported its highest-ever volume growth of 21 per cent during the quarter.”
The Shampoo business ended Q1 with a growth of over 30 per cent. Dabur’s Honey sales continued to report strong gains, growing by around 42 per cent, driving the Health Supplements category growth to 27.5 per cent in Q1. The Skin Care category grew by 27.1 per cent, while the Foods business, led by strong demand for packaged juices, posted an over 26 per cent growth during the first quarter. The Digestives business also grew by nearly 22 per cent during the first quarter of FY2018-19, while Dabur’s Home Care and Oral Care businesses reported an over 17 per cent growth.
“We have been witnessing a gradual improvement in consumer demand. Our focus on brand-building and market expansion coupled with innovation has helped Dabur sustain strong growth in our core categories, which has been significantly ahead of the market. Going forward, we will continue to focus on pursuing an aggressive and profitable growth strategy,” Duggal added.
During the quarter, Dabur’s International Business reported a 10.5 per cent growth, in constant currency terms. Sales in GCC markets grew 17 per cent, led by Saudi Arabia, which reported a 54 per cent growth during the quarter. The business in Egypt reported 31 per cent gains.