New Delhi, August 4th, 2017: The Board of Directors of Dabur India Ltd (DIL) met today to consider the unaudited financial results of the company for the first quarter ended June 30, 2017.
The overall business environment showed signs of improvement in the early part of the quarter with demand revival in the domestic market. However, sales plunged in June across all consumer categories in view of the massive de-stocking by trade channels just ahead of the implementation of the Goods & Services Tax. The overseas markets also continued to face severe headwinds with currency devaluations and economic turmoil in key geographies.
In this challenging business environment, Dabur India Ltd reported growth in its key businesses and ended Q1 of 2017-18 financial year with a Consolidated Revenue from Operations of
Rs 1,790.1 Crore as against Rs 1,952.2 Crore a year earlier. Consolidated Net Profit for the first quarter of 2017-18 stood at Rs 264 Crore, as against Rs 293 Crore a year earlier.
“The quarter began on a positive note with a strong revival in domestic demand in April and May. Trade sentiments remained cautious in June with massive de-stocking in the run up to the GST implementation. However, consumer demand continued to remain strong, helping us improve our market share across key product categories during the first quarter of 2017-18. Despite the short-term challenges of this transition, we remain positive on the medium to long term outlook for the sector and are optimistic that domestic consumer demand would gain pace in months to come. We have put in place a prudent growth strategy, leveraging Dabur’s herbal heritage and positioning as the ‘Science-based Ayurveda’ specialist, to deliver profitable volume-driven growth in the coming months,” Dabur India Ltd Chief Executive Officer Mr. Sunil Duggal said.
The Toothpaste business posted an over 10% growth during the first quarter of 2017-18. Dabur’s Home Care business ended the quarter with an over 6% growth, while the Skin Care & Salon business reported an over 4% growth. The Digestives business also grew by nearly 4% during the first quarter of 2017-18.
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Dabur India Ltd