New Delhi: Packaged goods maker Dabur India Ltd on Tuesday reported a 19% increase in March quarter consolidated net profit as volumes in domestic packaged goods business grew 7.7%.
The New Delhi-based company reported a consolidated net profit of Rs396.20 crore in the January-March quarter, compared with Rs333.11 crore a year ago.
Consolidated revenue for the quarter rose to Rs2,032.91 crore, up 6.2% from Rs1,914.68 crore a year ago. However, the comparable growth was around 11.1%.
“Revenue for the quarters ended 31 March 2018 and 31 December 2017 is net of Goods and Service Tax (GST) which is applicable from 1 July 2017; however, revenue for the periods up to 30 June 2017 is net of VAT but gross of excise duty. Accordingly, revenues for the quarters ended 31 March 2018, 31 December 2017 and for the year ended 31 March 2018 are not comparable with the previous periods presented in these consolidated financial results. Similarly, cost of goods sold and expenses are also not comparable,” Dabur India said in a statement to the stock exchanges.
Dabur’s comparable standalone India revenue for the quarter grew by 10% to Rs1,509.62 crore, while standalone net profit grew 17% to Rs353.58 crore backed by a 7.7% rise in packaged goods volume in domestic market during the quarter under review.
For the year ended 31 March 2018, Dabur’s consolidated profit rose 6.1% to Rs 1,354.39 crore.
Comparable standalone revenue for 2017-18 rose 8.3% while standalone net profit marked a 7.4% growth at Rs 1,072.05 crore.
“While we continue to face macroeconomic headwinds in some parts of the world, Dabur has efficiently managed the risks and challenges to deliver steady growth and report a resilient margin performance,” chief executive officer Sunil Duggal said in a statement.
During the quarter, Dabur’s operating margin touched a record 27.2%.
According to the company, its shampoo business reported a 31% growth in the quarter ended 31 March 2018, followed by home at 24%, health supplements and oral care at 14%, health care at 11% and hair oil business at 9%..
“We are witnessing early signs of revival in consumer sentiment, especially in rural India. Rural demand has been growing at faster pace. Favourable monsoons and a likely stimulus by the government as part of its overall thrust on rural growth is expected to further boost rural demand,” said Duggal.
Dabur’s international business grew at 16.8%, in constant currency terms, during the quarter ended 31 March .