Dabur Q1 profit falls 6% to Rs 341 crore; revenue dips 12.9% to Rs 1,979.9 crore
Indian consumer goods company Dabur India Ltd on Thursday reported a 6.18 per cent decline in its consolidated net profit at Rs 341.30 crore for the quarter ended June 30, 2020. The decrease in the net profit is due to lower revenue from operations.
The Home-grown FMCG had posted a net profit of Rs 363.81 crore in the April-June period of the last fiscal.
Revenue generated from operations for the quarter under review was down 12.90 per cent to Rs 1,979.98 crore, as against Rs 2,273.29 crore in the corresponding quarter of the previous fiscal, Dabur India said in a BSE filing.
Dabur India CEO Mohit Malhotra said “We entered this crisis from a position of strength. We were growing at a steady pace when the COVID pandemic brought business to a standstill. Amidst this challenging business environment, we quickly revamped our portfolio to meet the growing consumer need for quality…Dabur has significantly ramped up capacity with production now at near-normal levels and the business poised to deliver growth for the rest of the year”.
Dabur said during the quarter the company introduced a record number of new products and variants anchored on the consumer need for health, immunity and hygiene.
“The quarter saw our new products record sales of over Rs 100 crore,” the company said.
“We will continue to invest behind our power brands, many of which are in the healthcare space, to drive business growth. Going forward, we will also capitalise on the emerging tailwinds and our distribution might to further strengthen our position as a frontrunner in the Ayurvedic Healthcare and Hygiene products markets,” Malhotra added.
Share of Dabur India Ltd was trading 0.06 per cent higher at Rs 490.20 apiece on the BSE.