Monday, July 23, 2007
Consolidated net profit at Rs 62.2 cr on a turnover of Rs 571 cr
Standalone Q1 net profit rises 18% to Rs 54.1 cr
Announces Reconstitution Of Board
New Delhi, July 23, 2007:The Board of Directors of Dabur India Ltd (DIL) today approved the unaudited financial results of the company for the quarter ended June 30, 2007.
Dabur India Ltd (standalone) recorded an 18% growth in net profit during the first quarter of the 2007-08 financial year. Its net profit for the quarter stood at Rs 54.06 crores, up from Rs 45.84 crores in the same period last year. Its turnover also marked a 14.9% increase to Rs 445.31 crores from Rs 387.68 crores in the corresponding quarter of the previous fiscal.
The Company reported strong double-digit growth across key FMCG categories. Dabur's oral care brands continued their growth momentum through the first quarter with its toothpaste brands growing by nearly 27%. The Health Supplements category also continued its robust performance with a 30% growth during the quarter, while Dabur's Baby & Skin care range reported a strong 26% growth.
"The new financial year has started on a good note with Dabur India registering robust sales growth across key categories, and continuing to grow ahead of the market. The International Business, Foods, Oral Care, Health Supplements and Baby & Skin Care were the key drivers of growth during the quarter, growing at double digits. The inflationary pressures notwithstanding, we remain on course to strengthen our brand portfolio and improve our competitiveness in the market place," Dabur India Ltd Chief Executive Officer Mr. Sunil Duggal said.
Dabur India Ltd (Consolidated) posted a 31% growth in net profit in the first quarter at Rs 62.2 crores, as against Rs 48.2 crores in the same period last year. Its turnover for the quarter marked a 20% growth to Rs 570.9 crores, from Rs 475.5 crores a year earlier.
The Foods business posted a robust 37.5% growth in sales during the first quarter of the financial year, with Real fruit juices reporting a near 40% growth.
"Our International Business also recorded a 54% growth during the period, driven by our businesses in Egypt, Pakistan and the GCC region. We have built strong capabilities to tap emerging opportunities. Entry into new markets in the Middle East & North Africa region will only add to the growth momentum," said Mr. P D Narang, Group Director, Dabur India.
Dabur India Ltd Chairman Mr. V C Burman today stepped down as director and chairman of the Company. The Board has appointed Dr Anand Burman, currently Vice Chairman of Dabur India, as its new Chairman. Mr. Amit Burman, who was earlier heading the erstwhile wholly owned subsidiary Dabur Foods, has been appointed the new Vice Chairman of Dabur India Ltd.
Mr. Mohit Burman, who had spearheaded the Balsara acquisition over a year ago, has also been inducted as a Director on the Board of Dabur India Ltd.
"The reconstitution of the Board will provide renewed vigour to Dabur India's ambitious growth charter, and give the younger generation an opportunity to contribute towards strengthening its position as a global leader in the Health & Wellness spectrum," said Dabur India's outgoing Chairman Mr. V C Burman.
"Dabur India is clearly a company on a high growth path. The Company, under a highly talented management team, has maintained its leadership position in the FMCG market in India, and continues to grow at a fast pace. I am very confident that this team will continue to deliver sustainable results in the long term," Dabur India Ltd's new Chairman Dr Anand Burman said.
For Details :
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