Last Update: February 02, 2023, 17:39 IST
Dabur India’s total expenses rose 5.63 per cent to Rs 2,523.09 crore in the latest December quarter. It was Rs 2,388.53 crore in the year-ago period.
Dabur India’s revenue from operations in Q3 FY23 grew 3.44 per cent to Rs 3,043.17 crore, as against Rs 2,941.75 crore a year ago.
Domestic FMCG major Dabur India Ltd on Thursday reported a 5.51 per cent decline in its consolidated net profit at Rs 476.55 crore for the third quarter ended December 2022, as inflationary pressure hit consumption. Dabur India said in a regulatory filing that the company had posted a net profit of Rs 504.35 crore in the October-December quarter a year ago.
However, its revenue from operations increased by 3.44 per cent to Rs 3,043.17 crore during the quarter under review as against Rs 2,941.75 crore in the corresponding quarter of the previous fiscal.
“Dabur India Ltd weathered inflationary pressures, significant deceleration in industry growth and deterioration in overall consumer sentiments to deliver a competitive 3.4 per cent growth in consolidated revenue at Rs 3,043 crore in the third quarter of 2022-23,” it said.
Dabur India’s total expenses rose 5.63 per cent to Rs 2,523.09 crore in the latest December quarter. It was Rs 2,388.53 crore in the year-ago period.
Its CEO Mohit Malhotra said: “The impact of inflationary pressures was more pronounced in rural markets as marked downtrending and a shift to more affordable and smaller packs led to rural growth lagging urban markets for the second consecutive quarter for Dabur “
In the October-December period, Dabur’s consolidated revenue from the consumer care business segment grew 7.13 per cent to Rs 2,618.04 crore as compared to Rs 2,543.23 crore a year ago.
Its food business grew by 7.13 per cent to Rs 352.47 crore. Last year it was Rs 329 crore.
Dabur’s revenue from its retail business grew by 15.02 per cent to Rs 31.62 crore in the third quarter of FY 2021-22 from Rs 27.49 crore.
Revenue from other segments declined by 3.88 per cent to Rs 31.40 crore from Rs 32.67 crore in the same quarter of FY2012.
Its international business registered a growth of 14 per cent in constant currency terms.
“Turkey’s business grew by 97 percent, while Egypt’s business grew by 35 percent. Sub-Saharan Africa business registered a growth of 17 percent, while the SAARC market grew by 8 percent.
On the outlook, Malhotra said he believes that the demand slowdown in rural areas has eased as it is now seeing some green shoots of demand recovery in the hinterland.
“We are expecting a revival in rural demand on the back of a record farm output and increased government spending. Urban growth will be driven by softening of inflation and boom in new age channels like modern trade and e-commerce. Back off.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)