Dabur India on Wednesday reported a 24% jump in consolidated net profit for the quarter through June and said it was confident of growing faster than the market.
Homegrown FMCG company Dabur India on Wednesday reported a 24% jump in consolidated net profit for the quarter through June and said it was confident of growing faster than the market.
For the fiscal first quarter, the company posted a net profit of Rs 261.1 crore, compared with Rs 210.8 crore a year earlier. Consolidated net sales rose nearly 11% to Rs 2,064.1 crore.
"Going forward, we will focus on our cost efficiencies and pursue an aggressive and profitable growth strategy," Chief Executive Sunil Duggal said. "We continue to strengthen our business for the long term by driving innovation and investing behind our brands. With these initiatives, we are confident of growing ahead of the market and improving our market share."
Its toothpaste business ended the first quarter with a near 24% increase in revenue, while the OTC & Ethicals business and the food categories expanded 16.7% and 15.5%, respectively. The hair oil category reported 13% growth, shampoo business 11.5% and home care, nearly 12%.
Dabur's international business reported steady growth, led by Turkey, Nepal and the Gulf markets. "Despite disruptions in some overseas geographies, we are managing our business dynamically to ensure that we remain competitive and cost efficient. Our Turkey business grew by over 22%, while sales in Nepal grew by over 14% and GCC markets by 10%," said group Director PD Narang.
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